The 5 Steps for Entrepreneurs that Last
At Startup Turkey 2016 Microsoft country manager Murat Kansu shares the views and insights of Microsoft about the entrepreneurship ecosystem. They work with over 200 000 start-ups around the world and 1500 of those are in Turkey. During this long experience they saw a lot of successful companies and a lot of failures. From their findings, here are their insights about how to be successful and use the best practices of others.
1- “Having a great idea”
Do I really need to explain that one?
2- “Focusing on the idea and customer needs rather than investments”
One of the biggest mistake of startups is to look for funding as soon as they are established before meeting the requirements of their customers’ needs. Don’t defocus from your core responsibility: building a great product.
3- “Building an A-team”
You need functional expertise, don’t be too in love of your idea that you don’t want to share it. Surround yourself with great people who are better than you.
4- “Working with us to reach more customers around the world”
Microsoft might have millions of customers of all types, they will help you connect your startup to the customers and then you can build new features and the circle starts again.
5- “Scaling with more funding”
Once you have a great product that your customers love, it’s time to look for investors to scale with funding. However don’t lose your cultural values as you grow and don’t get distracted from your core competencies.
You can listen to the talk here