Everyone’s dream is to create a business that comes into a business and disrupts the whole market it was intended for. It takes a lot to disrupt businesses that already exist especially technology businesses. It is hard but very possible. So how would a Startup Disrupt an existing market? Here are five steps that can definitely help and guarantee success;
- Who is your business for?
This is the biggest question before anything is even done. Any Startup should be able to answer this question before they move forward with anything. It is important to know who a business is trying to target because that will help them make products/services that are specific to that particular audience. Once a Startup knows who its audience is, they will know what it takes to satisfy those customers. Hence everything the company does will revolve around that audience
- What problem are you trying to fix?
So many Startups are created just for the sake of making money. Those are the specific Startups that usually struggle to make it because they will focus on making money and most of the time there won’t be any opportunities for growth. It is very important to understand how a company will help its customers both in the short and long run. By doing so, a business will understand how to sustain its customer base and only focus on the one thing that sets them apart from their competitors
- Create something outside the box
A new company should be able to do something that hasn’t been done by any other company that the Startup is entering. If people are able to get something new that doesn’t compare to anything they have seen before, they will be attracted to the idea and want to give it a shot.
- Create a great Website/App
A great Website/App that is easy to navigate, eye-catching, and mobile friendly is another great way to disrupt the market. People are always attracted to something that is easy to use and navigate. Customers don’t want something that will waste their time to figure out. If a company is able to make something that is easily accessible and looks great, it will always attract customers to it.
- Be ready to fail the first few times
Failing is a big part of success. For anything to succeed not just businesses, it must fail a few times because that is how you learn to get back up. Therefore, in order to create something exceptional, failing will be part of the process. The idea of failing is learning how to grow and become better from it. Every time an idea fails, but the people behind it don’t give up, they will come up with something even better. Some of the best ideas come from learning from previous mistakes. Mistakes are the best teachers because a company will not make the same mistake two times. What that means is that companies that fail the first time and get right back up will always find a way to become successful.
These are not the only steps needed for a Startup to disrupt any business, but they are a few of the most important ones. Once a company figures out how to handle the above five steps, success is bound to follow most of the time.