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5 Things that should be done before you start your company
By Hari Anil, SiliconIndia
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2 Comments
Bangalore: Is this a good time to start a company? Probably not! The world economy is rather unstable and many economists are predicting another recession soon. But, none of this would stop visionary entrepreneurs from going ahead and setting up his first venture. Their overwhelming passion makes them ready to take on the whole crumbling business world and show them how it really should be done. Are you one of those young visionaries? Then, let us go through some of the things that should be on your to do list before you start your company.
Know Your Market
You saw the pain point in the market and you got a great idea for a solution or a product that will bridge this gap, yet, it is very important to know all the aspects of the market that you are targeting before you nose dive into it. You cannot pay your employees, your bills or your mortgage with idea; for all those you need money. So, can your idea make money? Do your homework and find out if there will be buyers for your product, how big this market can be, and more. Then check and make sure if there are others who are already in the market with similar products or are someone coming up with something similar. Only after doing the research and understanding the pulse of your market and making sure it is financially viable, should you go ahead.
