Sharing Israeli wisdom: Five tips for building a startupJul. 22, 2013
The chances of Internet and mobile initiatives succeeding are not high. That's true of both startups that require venture capital funding and ventures that are funded out of pocket. While development costs today are lower than ever, the growing expertise of users raises the bar higher than ever in an increasingly saturated market.
Despite these trends, the transformation of social networks into distribution channels and economic innovations like crowdfunding are driving more and more entrepreneurs to dive into the digital revolution. If you're one of them, a few of the following rules could help.
You don’t have to develop something. Developing a new site or application is not necessarily the best solution for you. There's no guarantee that people will see your wonderful new site or download the application. Sometimes it’s preferable to leverage existing Internet platforms, like Facebook or eBay, to develop a business. While existing platforms lower your potential profit margin, it's worth checking that there's profit to be made. Even if you decided to develop a website or independent app, consider using services that greatly cut down development time such as the Israeli companies Wix, an automated website builder, and Magneto, which helps develop eCommerce platforms.
For the full article on Haaretz click here.