Lifehack recently offered readers a step-by-step guide to launching a new business in 2022. Here are a few of their top tips:
1. Start by thinking of an actual problem that people face in the world. Next, figure out how to build a solution. Uber was inspired when founders Travis Kalanick and Garrett Camp found themselves unable to find a taxi on a snowy evening.
2. Do research and develop an understanding of the current marketplace. Familarize yourself with potential competition
and how your concept is different and better.
3. Start small and grow organically: Starting your startup as a side-hustle can be a great way to safely start building your business.
4. Don't wait. The only way to find out if people will like your product is to get it out there in the world. Lifehack points out that if you wait too long, a competitor may swoop in and offer a similar, or even a better, solution.
5. Put your customers first, Listen closely to customer feedback, suggestions and complaints. Customers can help provide crucial insights about their experience of your solution, including what they like and what they would change.
There has never been a better time to launch a new business. Over 1.4 million new startup applications were filed with the government in 2021.