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A work setting within a startup. Photo by: Pexels.com
A work setting within a startup. Photo by: Pexels.com

How to Deliver a New Product that Fills Demand

Startups and job growth continues to build momentum in 2017.

President Trump has made it one of his top priorities, but with a list of current other issues, it often becomes a back burner problem.

The United States continues to drive innovation in different markets with our advanced technology in comparison to other developing countries. That technology gives each person an opportunity to better their lives each day.

In the first TED Talk below featuring Bill Gross, he covers data from different startups, and found that 42% of the 200 businesses he surveyed excelled when their product had proper timing.

He reviewed funding, product, and revenue growth with different companies.

It is clear that with the revenue growth our company is currently producing, that we could easily acquire funding from an outside investor. My point of view on startups is similar to Mark Cuban’s view to only acquire resources as a last resort.

An excellent example of this logic is YouTube.

A company that has never turned a profit, and is owned by Google, is still looked at as one of the most successful startups. Why?

YouTube does bring in large sums of money, but they also spend a large sum on operations and advertising.

When creating a startup, or a business, it is important to define what goals you want to accomplish early on. Our company focuses on bridging cultural gaps. It is hard to measure that goal, so I suggest creating goals that can be defined and measured.

Shark Tank and the investors on that show continue to shine light on proper business management tactics to build startups. They show how much traction and growth a company needs to have to takeoff the runway.

In a lot of ways a startup is like a science experiment. 

Currently, I am reading The Lean Startup by Eric Ries. He shows the importance of creating and maintaining projects or experiments to measure how a product is doing in a market.

Another excellent tip by Mark Cuban is utilizing sweat equity. This means to invest labor and hours into a product, rather than investing a large sum of money. It has been my experience that throwing money at a problem doesn’t solve it over time. This is why I suggest investing physical time into a company to see greater results.

The second TED Talk below is from Adam Grant. He covers the volume of production in connection with success. I tie this point to sweat equity. When investors, producers and entrepreneurs invest time and effort into companies that fill demand to new products, a level of fulfillment will take place.

Below the YouTube videos is data from around the globe. Google shares insight on which countries and searching out for ‘startups’ on the Web.

The single biggest reason why startups succeed | Bill Gross

The surprising habits of original thinkers | Adam Grant