Entrepreneurs, in an attempt to pitch their ideas start believing that the greater the number of slides, the better is their business going to influence the investors. This however, is completely a misconception since an appealing business plan does not depend on the quantity but the quality of the content.
Often it has been observed that the beginners compare their business with that of others and highlight the prominent features and goals which they can achieve and the others can’t. This is an incorrect approach, and often does more harm than good.
A successful company has multiple products and offer single solution, which decreases the need of customers to work with many companies. Such companies should have enough resources so that the customers can enjoy comfortable and affordable shopping, all, at one place. This would give a strong competition to your opponents. However, such companies need to create huge funds and so must not concentrate on selling just a single product.
In case of startups, it is essential that you focus on a single thing and try to it better than all others can. Instead of trying hand son too many things and not being good at any one of them, it is far better to prove yourself the best in a particular thing.
Startups are the key to better marketing since a single and best in class product line will help you connect better with customers. This will easily generate PR and help to boost your growth as a business organization. A good example to explain this is the success of story of the famous transportation app Uber. What if Uber allowed access to taxi and promised to make better deliveries? It would not have worked at all for the site. Because of its single and promising service, Uber has successfully proved itself to be the best transportation app.
There are numerous examples to show you that great and the most successful businesses began with small yet efficient startups. Amazon, the most powerful online shopping site began its journey by selling a single product – books. Google began by first enabling only search, Apple by a single model computer, and Tesla by a single model car.
In a nutshell, great business begins with a powerful single startup. Doing just one thing perfectly is far better and far preferred than trying put hands at too many things and facing failure. Just focus on your start up, make it better than others and there you are all set to receive success and response for a great business ahead.