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  • Writer's pictureПламена Гурцова

What are the steps for starting a business? The 7 stages of startup development in 2021

Updated: Sep 8, 2022

What are the steps for starting a business? The 7 stages of startup development in 2021

1. Come up with an Idea and Research it

Find out how original your idea is and what its rough market value is. Make sure that you have an unbiased opinion about your niche and your target audience. Keep track of your competitors, observe their behavior, and point out their strengths and weaknesses. Find the right startup foundry that can help you out with this part and do part of the research.

2. Decide on your USP – with a twist

You need to innovate – do a twist on the twist. Don’t follow others. If you want to be successful, sometimes you need to take the opposite direction and trust your guts. Decide on your USP and focus your work on the main feature that differentiates you.

3. Build your Go-To Market Strategy

Your Go-To-Market strategy determines whether you will make it. It should be well-thought and analytical. If you are a novice startup founder, you should share your strategy with an experienced startup foundry team.

4. Develop your product & Test It

As we told you previously, the easiest way to find out if your idea has the potential, is by developing the product and testing it among your target audience. You can do that by partnering with a product development agency that can build your product from scratch in no time.

5. Don’t Compromise on UX & UI

Your UX and UI have to be on point. Don’t compromise on them if you want to be taken seriously by your clients and competitors. If you were a lead, would you trust a cheap-looking solution? Even if your business idea has some weaknesses, an exquisite presentation can compensate for them.

6. Do your Digital Marketing properly

Digital marketing connects you with your users and turns them into long-term clients. Make sure that you can clearly present your idea and values. Focus on open communication. Be ready to give out for free more than you receive, at least at the beginning. Trust is worth the sacrifice because it works both ways and leads to success.

7. Analyze, Improve and Grow

The last step of developing a startup is to analyze all data. Make sure that you understand your users. Listen to their feedback, ask them questions, and improve. That’s the only way you can progress and grow your team.

Thank you for reading our article on Best Starting Business Ideas for 2021. We advise you to carefully analyse the development opportunities and the market niche. Save time by testing and validating your idea as quickly as possible. Don’t forget that in the digital world, the most important thing is to be first.

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