Think Out Of the Box and Adapt
Entrepreneurship is all about creativity, thinking out of the box and the courage to adapt and change. The first thing is to come up with your own individual idea and then identify the target market. Ask yourself why this idea is important and what are its advantages? Would you buy it? Keep on challenging yourself and ensure consistent inputs in the form of third party feedback and surveys.
You do that and there are good chances of creating an impactful product. However, the probability of it becoming a rage overnight is still very less. You have to be prepared to take the initial hit. Realize what aspects are missing in the product, and have a backup plan to fill those up.
Fill the Market Voids
Every market has a major player, but that does not mean that all the customer needs are fulfilled. There is always a grey area, and as a budding entrepreneur looking for a start up, it is your job to identify and capitalize on that.
Speed It Up
Whatever you do, speed is the key. Once you plan to start up, work at full throttle at a pace only you can achieve. Your slackness, either when it comes to managing human resource or making product adjustments, will give your potential competitors more time and flexibility.
Persistence is the Key to Success
Remain committed and do not be swayed away by the initial setbacks and hurdles. Learn, adapt and only then will you succeed. And remember, hard work always pays off.