Tuesday, April 11, 2006

Focus on Fundamentals - FoF

FoF ( Focus on Fundamentals) thats what i read from webvapors ยป FoF, where the Vaibhav Domkundwar believe's is really key to the success of startup businesses anywhere in the world, in any market segment any time of the day or night. He also goes on to say :

"All along, the only thing I would say made the biggest difference for me was the Focus on Fundamentals - a few simple questions that, I believe, can help every startup to think through the challenges and really work towards revenues, revenues, and revenues!

1. Do you know your exact target market and your target buyers?
2. Does your target buyer experience a pain point that is not solved right now? Or not solved optimally right now.
3. What do you think the customer will pay for your service? Is that enough to build your company and be profitable?
4. Do you know your competitors? Can they be your partners? How do you differentiate from them?
5. Do you have the right team in place? Do you know how best to build a team to deliver your product or service?"

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