Social media marketing has revolutionized the way young startups gather and interact with their target audiences and consequently it has influenced the way that we gather potential new customers. Social Media marketing is a good way to test your Minimum Viable Product assumptions and gather user requirements. It may also help when searching for a monetization model, and nonetheless aids in finding users for the beta release of your Minimum Viable Product.
There are four keys to utilizing the power of Social Media. First is understanding the different methods and possibilities available when using social media. Second, prepare a plan for what is needed and expected from using the social media. Third, design and test the methods you plan to use to achieve your goals. Finally, execute your strategies while continuously adjusting your techniques and method, depending on the results you get.
DNA usually refers to the fundamental and distinctive characteristics of someone or something, especially when it refers to those properties that are regarded as hereditary or unchangeable. The study of DNA is becoming a major field of science, and the study of manipulating an organism’s DNA is becoming more and more possible. In business, we sometimes use the term DNA to describe an organization’s essential qualities and therefore study its non-organic DNA as a way to try to improve an organization’s behavior as well as to be able to predict, or sometimes even change, those qualities that lead to its success.
It is very tempting to build the best and most feature rich product, but does this serve your goals or your target audience? No, it does not. You must identify the minimal viable product which will meet the needs of your target audience and remove all unneeded features and functionality of the initial version. Once your launch your product, you will discover the real needs and features needed – some will be as you might have expected but many will be new and come from your target audience needs and reactions. [see also Lean Startup" href="http://jumpstartcto.com/the-lean-start-up/" target="_blank">The Lean Startup]
When starting up a new venture one has to be careful. Since each new venture has its own unique challenges, there are several common mistakes often repeated in the early stages of businesses that you need to watch out for; all of which could negatively affect your business further down the road.
These are some of the more common mistakes that I found commonplace in my experiences of working with startups.
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JumpStartCTO is managed by David Rashty, an entrepreneur and early stage investor. David is the founder of CreativeMinds which focus on WordPress and Magento products and behind a non-profit dedicated to Desert Knowledge Sharing