Our business development pixies Alena and Sveta have recently returned from Estonia, where they attended sTARTUp Day. They joined the startup community, studied novel tech ideas, and spoke to numerous business reps about how to find the perfect match in technology.
During the show Alena and Sveta met domain experts from various fields and amassed a wealth of experience. We’ve decided to share some of their takeaways from the trip:
Number one, the most important thing for a startup is the product itself. Alena and Sveta saw a number of projects that had potentially interesting ideas, but all had flaws in execution. Some of them didn’t work properly, others were not well-thought-out. It is apparent that you can never pay too much attention to product quality and execution.
Number two, a strong team is the key a startup’s success. Every team member should be a specialist in their field, and thus be able to contribute to the project’s development.
Number three, you need to know how to sell your product. The show involved many startups that had curious ideas, but couldn’t sell their product. It is essential to know how to explain, in a clear and attractive manner, how your product works and what competitive advantages it possesses.
Number four, establishing contact and making acquaintances are of the utmost importance. This show, like so many others, was a treasure trove of helpful knowledge and experience.
Number five, a startup is not just a project, it’s a way of life. Startuppers must accept that their project may not generate the profits they expect. It is more akin to having a child, who becomes the meaning of your life and the reason you wake up every day!
And finally – networking is crucial for a startup’s development. One needs to know how to get in touch with investors, partners, and clients to get the support and funding needed to grow one’s business. And of course, it allows you to attend events and communicate with other entrepreneurs to obtain valuable knowledge and experience.
But for now, we are waiting for leads to turn into exciting new projects which, in turn, will turn into vacancies we will post!