Every business idea needs a suitable target group!

The more precisely the target group is defined, the better. Of course, several target groups can be addressed, but they should be narrowly defined. Proto-personas, for example, are suitable for this purpose. Proto-personas describe hypothetical, so-called "archetypal" users who are examples of potential users with similar requirements for the functional scope and interaction design of a product. In short, fictitious target persons are described in detail to determine the optimal target group for a start-up's idea. In addition, this type of preliminary work can reveal other problems of a target group that can be incorporated into the idea to make the product even more targeted. This process can take the form of conversations, interviews, or other research avenues.

Another additional way of determining the target group is the use of a so-called empathy map. The aim of this is to clearly identify the needs of potential customers to create a basis for concrete marketing measures. In contrast to the persona concept already described, however, empathy mapping is more concerned with the emotional state of the target group: the wishes of potential customers are not only described, but also understood in their entirety. 

Start-up financing

There are some industries – such as IT or services – where a financial sponsor is not necessary in the beginning. However, if a sponsor is necessary, a good pitch is everything!

To land this pitch, it is important to present your own product in a motivated and convincing way to win over investors for the project. A creative idea is usually not enough here, as any good investor will only invest in guaranteed profitable projects. The investor's role in the company should also be defined at the outset, whether it be as a shareholder, owner, or lender, as this plays a decisive role in the management of the company.

The right employees

Since a start-up usually has little money available at the beginning, it is even more important to choose the right employees. Only employees who are similarly enthusiastic about the idea will help you get as far as possible with your start-up.

A Silicon Valley dev team that works quickly and independently but costs a fortune will be just as unsuitable for a small budget as a permanent intern who may be inexpensive but requires continuous supervision by another person. Ambitious employees who are interested in the success of the company are important for the success of a start-up!

Start-ups require patience

Building a start-up takes time. Particularly at the beginning, there can be an increased number of mistakes, hurdles and obstacles in the way that need to be overcome. This requires a lot of patience and perseverance.

Only time will tell whether the target group will accept the idea and it will become established. Once the product has found general acceptance, small to medium inconsistencies can usually be corrected. Especially in the initial stages, things can go up and down; it is important for company founders to recognize, weigh up and be flexible!