5 Things Startups Must Do to Succeed in the Competitive Market

, Start Up
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Aaron Vick

90% of startups fail because they haven’t done any market research. 

The truth is, creating a startup is incredibly difficult—but also rewarding. If you understand how to do market research and how to create a business plan, you’ll have a much higher chance of succeeding.

Even so, those are only two of the components of a successful entrepreneurial endeavor. Read on to find out about the five most important things to do when creating a startup. 

1. Create a Written Plan

Creating a startup means you should have a business plan ready

Before you jump in, remember that there’s a huge difference between a business idea and a business plan. A business plan should include a 12-month budget projection, a marketing plan, and an understanding of customer acquisition costs. 

The most successful business plans are written 6-12 months after the initial business idea.  

Every business plan should have target measurements or incremental goals. You’ll be able to

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