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Target for Startups to Accomplish in their Year One
By siliconindia
Fremont: "All that is really necessary for survival of the fittest, it seems, is an interest in life, good, bad or peculiar," said Grace Paley. The quote stands true for startups. There are several startups who cannot celebrate their first birthday. It is not that the entrepreneurs do not put their effort to keep their company alive, but they somehow do not manage to make it.
The first year of any business is all about discovering and learning. The entrepreneur needs to find out what their business model is, what his value proposition is and who your customers are. A startup is just like a newborn baby and you do not know what it is until you are in the middle of it. For your startup to keep on celebrating its birthday year after year, make sure to accomplish the below mentioned milestones within the first year.
Have a Defined Proposition
Not many businesses stick rigidly to their original business plans. This gives you a chance to adapt to the lessons and pitfalls of entrepreneurship. Within a year into your venture, you should have redefined your proposition, based on what has worked and what did not in throughout the past twelve months of your venture. The startup should not hang up with the original plan, but should have the scope of flexibility to adapt the changes.
