Showing posts from August, 2017

Want to start a marketplace startup? Better buckle up as it's not going to be easy!

A Marketplace business is the interpreter of supply and demand. In easier words, it can be defined as something which connect buyers with sellers, takers with providers or those who demands with those who supplies.
These type of businesses which includes giants like Amazon, AirBNB, Uber, Etsy to name a few are almost always huge in terms of network, profit, net worth and several other such factors. They are also one of the hottest types among the investors and venture capitalists and a lot of them are looking to invest more and more here. 
Though this all sounds highly intriguing, the only thing which nobody wants to hear is that building a Marketplace business is as hard as anything. There are a lot of struggles founders have to face while starting one and even when there business is stable. 
It includes a lot more complications which are not easy to solve and often comes out as the cause of company's failure. Some difficulties which marketplace businesses face almost everyday a…

Oh, you have the next big startup idea? Umm... make sure if it is really that big.

This certainly has happened with almost every wantrepreneur (wannabe entrepreneur) out there. Every now and then, or in some cases, once in a while we have been struck by an idea which we think would be the next big thing. Though the thought is exhilarating and unavoidable, we can't and shouldn't let ourselves get deceived by our own brain.

Then what are we supposed to do? Well, as suggested by the famous Silicon Valley serial-entrepreneur and academician Steve Blank, you have to refrain from thinking about the viability of the idea yourself and have to:
and talk to minimum 100 real people (or your potential customers) and ask them to validate your idea. Ask them everything which comes to your mind related to your idea. Questions like what they think of it, would they use it, how much would they happily pay for it etc.

One of the book you should read for perfecting this art taught by Steve Blank is:

After successfully going through this phase you'll be having an amazing fe…

Want to start a billion dollar startup? Stop thinking about ideas and start looking for problems.

Yes! You read that right. If you want to start a billion dollar startup and you are looking for ideas to work on then most probably you are doing it wrong. Why? As said by famous entrepreneur turned Venture Capitalist Paul Graham:

So, basically what you have to do is think of a problem that a big population is facing (recommended: including you) and then come up with a solution which is easy to implement as well as easy to scale and helps those facing the problem in the best way possible.

The reason why it is recommended to have that problem yourself is that it ensures that the problem actually exists and you are not merely making it up in your brain. Because, if you'd work on a solution for a problem that does not exists then without any doubt it'd be a failure.

I would recommend this book for some amazing points to keep in mind while looking for a problem:

Now, just start observing yourself deeply doing your daily activities and try to figure out that where you faced irri…