“Starting with Nothing: How to Bootstrap Your Business” provides concrete steps that enable aspiring entrepreneurs to actualize their business ideas. The newly published video features IdeaPros’ chief marketing officer, Simon Solotko, who has previously worked as a mentor in startup accelerators.
More information about IdeaPros is available at https://www.ideapros.com
Solotko places emphasis on the concept of “minimum viable product” or MVP — a prototype that has enough features to entice early adopters. By focusing on simplicity, particularly during the bootstrap phase, founders can accelerate the development and launch of their product or service.
The logic behind this principle is that the more elaborate a product is, the harder it is to launch. This is especially true when entrepreneurs have limited capital at their disposal. Solotko adds: “It’s better to do one thing and do it well, rather than trying to do too many things at once.”
ANSWERING A TRUE PROBLEM
Data from FreshBooks show that only about half of all startups are still in operation after five years. Solotko says that success or failure is often a function of whether a startup addresses a real and pressing consumer need. This is a crucial question that would-be founders need to consider, as it not only determines their venture’s long-term viability but also whether investors will get on board — two factors that are crucial to growth.
BUILDING A CAPABLE TEAM
Another aspect the video discusses is building an effective team to support a new product. More precisely, viewers will learn how to select members who are not only excellent at their given roles, but are also aligned with a startup’s vision.
Those who require further training can also view related webinars such as “Launching In An Upside Down World,” “The Other Side of Fear,” and “Reprogramming Your Limits.”
Possessing expertise in market research, positioning, branding, engineering, and manufacturing, IdeaPros offers ambitious business owners a robust set of tools to achieve their goals with. Its mission is to give clients the expert insight and constant support they need throughout their journey as an entrepreneur. Led by CEO Fred Cary, the consultancy has worked with over 250 startups, and has facilitated many mergers and acquisitions.
To sign up for the consultancy’s entrepreneurial mentorship program, interested parties may visit https://www.ideapros.com/start-now
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Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Boston New Times journalist was involved in the writing and production of this article.