Going from a startup to a business is definitely a rocky road filled with land mines but The Chennai Angels gives you seven important instances you need to avoid while building you startup from scratch!
Analyze the market and build a product accordingly. Never build a product or work on something that will not be of any use or if there are too many existing similar products already.
Your MVP should be build within hours. Never take more than a few days to build your MVP because if it gets too complicated, your product is going to get even more complicated.
Make sure you make your office culture very clear to your employees from day one to avoid any sort of disagreement later.
Never ever spend any time on researching how to beat your competitors because you will never get to beat them but only give them more time to get better.
Just like you learn from your mistakes, you also have to learn from the data and analytics you have collected – trust us, it will help.
You have a whole team under you? You have different departments working on different things? All you need to do is Communicate and consider half work done!
Focus on priority – build a product, sell it and scale up your business!