I worked several startups in Bangladesh in my career and have seen how these newly founded companies could not reach to the target customers. I believe, the following issues must be considered to make a startup successful in this challenging Bangladeshi market.
- First of all, whether there is demand and need in the market segment where you intend to place your product or service.
- If there is demand in the market then you need to find ways to become remarkable to the target customers. You must have an irresistible offer which customers will test at least for once.
- Most of us think that we need to spend a lot of money on advertisement to build awareness and establish a new company. But if we think in a different way – make a product which is so remarkable that your customers are recommending it to their close circles which are also your probable customers. Now think about it, you are asking your target customers to use it through advertisement; on the other hand, your satisfied customers are recommending others to test it after their usage. Which one would be attractive to your target customers?
- There is no alternative to be customer focused for making a Startup and its product successful. You must make your target customers life easy through your product or service to become sellable.