Top 3 Tips for Startups with Teresa Truda

“Often when you have a business or product and you’re not quite at the point you want to be, you can easily get bogged down by trying to bring other people onto your journey – (my tip is to) to be able to articulate your vision better, so they come on the journey with you.” Teresa Truda – Entrepreneur

Validate your idea/ product

Sometimes even the most bizarre ideas can turn out great. To determine if an idea has a chance to work, it needs to be confirmed.
What is market validation? Market validation is the process of deciding whether your product is of interest to a given target market. This phase can include administering a range of customer surveys, testing the product with people in your startups target market, this phase should happen before any significant investment in your product/concept has been made.

Working out your vision- writing it down can help!

It might sound obvious, but you need to know your vision – not just for tomorrow but for years to come. Your vision should define why your business exists and where you are headed, giving you a clear direction on why you do what you do every day. The aim is to attract like-minded people to join you on your start-up journey. It should be something really big that feels almost impossible to achieve but worth pursuing, it should be honest and transparent and provide guidance and inspiration to what an organisation is focused on achieving in the years to come.

People, surround yourself with the right people

When starting up, the people you have around you will have a huge impact on whether or not your business thrives. To have long-term success with your startups, one of the most essential elements is to unite the right people to work with you along the way. Eventually, your team and network will become your company’s backbone.
Search for people who have the same confidence in your product or service, for people who can deliver new and inspiring perspectives and ideas, also for people who are strong and efficient workers.

To check out the episode of Business, Wine & Cheese we filmed with Teresa, click here.

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