Concept in Definition ABC

One of the main characteristics of the market economy current is diversity of products and companies that we can access as consumers. In a context of competitiveness typical of the economy Capitalist companies seek to maximize their profits and outperform their competitors, either through prices or product quality. This is the general framework in which startups appear.

A startup is a company with a series of characteristics

- Normally they are SMEs that with the new technologies do not need a large volume of labor.

- The use of new technologies plays a very relevant role in the production process and in the final product. ICTs have a triple objective: to streamline processes, lower the cost of production and adapt to new market trends.

- Startups have a fairly small market share, as they seek to launch a specific and normally novel product within their sector.

- Rapid accelerated growth is another of its characteristics.

The aspects indicated above remind us that companies called startups make up the

paradigm business today. In this sense, to create a startup it is convenient to take into account a series of variables:

1) devise a Minimum Viable Product or PMV to meet consumer expectations,

2) establish the essential difference of the product or service,

3) find a solution to a problem,

4) analyze competition in the sector,

5) define the typology of potential customers,

6) know the resources initials to start the activity,

7) conduct a realistic financial analysis and

8) launch a marketing campaign.

Experts in startups consider that, in addition to the technical factors mentioned, the emotional part is essential to achieve success with this business model.

What is the profile of an entrepreneur who develops a startup?

The individuals who implement this type of initiative are usually very knowledgeable about the market, the language of the new technologies, marketing and a whole series of complementary tools (for example, new sources of financing wave programming neurolinguistics adapted to the business world).

Due to all this, the profile of a startup promoter is usually someone young, with a desire to overcoming and connected with everything that has to do with innovation.

Photos: Fotolia - Monkey Business / Robert Kneschke

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