Base of a successful startup

First thought that would have come is, what is start-up? So when we a start any new business the initial stage until it reaches certain level of growth and attains some position in the market it is called start-up business.

To be a successful business in the market the business should earn profit. Some would think this is a good point to note down, wait! That is not even a point because obviously the main aim or goal of a business is to maximize the profit and minimize the losses. And business doesn’t become successful by just earning maximum profit. Business is called successful when it is able to earn valuable customers by providing good quality product and services. Which helps the company to survive in the market for a long period of time. Loyal customers help the company to be consistent in the market with good growth rate and great profit. And that builds the successful business.

And to become a successful start-up in the market the first and the foremost point should be, to come up with some unique idea that isn’t there in the existing market. Either it is worldwide market or your local market. For example if your local area lacks with a petrol station the idea of building a petrol station would work for your area and similarly it goes with worldwide business.

The great author and a co-founder of PayPal Peter Thiel wrote a must read book on start-ups which was launched in 2014. In that book there was a line that going 0 to X would not make your business unique, to be one of your kind you need to go 0 to 1. The meaning of that was explained by him with the use of graph, that is on a graph he denoted X axis as other companies and if we go from 0 to X axis that is if we copy other companies exactly as they work then let it be n number of day or years we copy and work we would not succeed, And he denoted Y axis as an unique road and said that if we move 0 to 1 that is even one step we would get success because our idea is out of the box and unique.

So the first step and the base of a successful business is to bring what people and customers need. And move 0 to 1(zero to one).