The startup ecosystem is incredibly competitive – just because you have an incredible new idea, doesn’t necessarily mean you will see it to fruition. There are a lot of factors at play that will determine the success of your startup business.
As someone who has always gravitated towards innovations, Jeff Longtain has a passion for advising startups and ventures in the health and medical industry. Today he shares the 3 factors that will determine the success of your startup.
- Your growth strategy. If your business isn’t growing, it is failing. Have a plan for how you are going to expand your business before you get it off the ground.
- A dedicated team. Without the right people around you, your business could be doomed to fail. Each team member is crucial for success, and you don’t want any squeaky wheels.
- Market research. You need to know who your target audience and market is, and how you are going to sell to them and defeat the competition.