Journal of Business and Hotel ManagementISSN: 2324-9129

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Secrets of Successful Startups

Most startups fail. That is a fact. Building a successful company is about understanding the changing needs and challenges of a company throughout its lifecycle. It is about team building, execution, managing expectations, establishing relationships, and understanding the ever-changing markets, needs, and trends. The goal of this seminar is to learn best practices and secrets of success from the ones that have become very successful to improve the chances of success. We will focus on practical skills to identify, assess, validate, and build a tech startup. We will discuss the process of building a tech company from the ground up, getting started, developing and validating a business model, validation, building a team, working with VCs, and avoiding the most common mistakes. We will establish an in-depth understanding of the fundamentals, the process, and the critical challenges. We will discuss how in order to be successful, you must take the time to identify the problem, make sure it is real, and move toward building a startup step by step. We will cover key topics including: Coming Up w/ The Story / Personal Connection, Articulating the Problem You Are Solving, Understanding Who Your Target Customer Is, Designing the Solution, Identifying the Addressable Target Market, Understanding the Competitive Landscape, Articulating your Differentiation / Competitive. Advantages- Creating a Defensible Business Model, Measuring Your Unit Economics, Defining a Go-To-Market Strategy, Designing a Growth Plan, Planning Use of Funds. The first critical step- Knowing the addressable target customer & market; Methods and costs of acquiring customers; What drives customers to buy from you; It’s all about the team; Is there a market for what you are selling at that price; The cluster effect; Does the business make financial sense in the long run; It matters how you monetize your clients; It is all about timing!!

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