The Avengers journey helps startups explore a business idea and approach from a variety of angles, by also factoring in the knowledge and attitudes of the team, ensuring the viability of venture to be higher before the next leap is taken.
1. Having clarity about the need of the market and market trends is an important aspect before starting your business. Do your homework seriously!
2. Decide the segment of customer you want to cater to. Know them well so that you can sell!
Industry awareness is the key for defining your long term business goals. Study your competitors and potential competitors well.
3. Build upon your strengths and get your Intellectual Property Rights in place to have a competitive advantage and building barrier to new entrants.
4. Build your network strong across the value chain. Build a team with team members having unique and different skills.
5. Define your mission and make sure that every member of the team is aligned to the mission. Make sure that Personal and Professional goals of the team members are well aligned. Be prepared to take risks!
Find out your Critical Success Factors (CSFs) and execute well on these CSFs.