Successful Startup Entrepreneurs Are Doing These 3 Things Right

And Why You Should Too

Photo by krakenimages on Unsplash

Focus on being useful to others first, and then make money

Many businesses start out by thinking about how they can make money off their idea (or product), but this is not necessarily the best strategy.

Instead, focus on solving problems for people first and foremost and then figure out how to monetize your solution later on.

This will give you something tangible to talk about when talking about your business with investors or customers; it will also give credibility to your business when there is no actual product yet — “I want to create an Uber-like service using driverless cars!” sounds more credible than “I want to create an Uber-like service… but using driverless cars!” because the latter leaves so many questions unanswered as compared to the former statement which already has its core value proposition defined: “Uber-like service… using driverless cars!”.

Build up your reputation and trust before asking for money

One of the most important ways to build up a business is to get people to believe in you.

Again: focus on being useful first and then monetize later on.

Have a niche market strategy by focusing on multiple niches at the same time

Many business owners think that they should pick one target market and only cater to that one niche; but this approach could be very dangerous if your main product/service is not appealing enough for customers in only one niche market.

In Summary

The best way to be successful is to focus on doing things that are useful or interesting to others first and then figure out how you can make money off it later on.

Founder of Cudy Technologies (www.cudy.co), a full-stack EdTech startup helping teachers and students teach and learn better. I am also a mentor and investor.