Advantages of Building a Startup Company in Poland
According to the report Polish Startups 2020, conducted by Startup Poland, almost one-third of startups (32%) generate more income than a year before. More so, they are able to do that during the worldwide pandemic. COVID-19 took a toll on every branch of the economy. Nevertheless, startups in Poland are in a good condition. Potential customers are waiting for a new business to solve their problems. This indicates that building a startup in Poland now is a good choice for entrepreneurs.
Minimum Viable Product (MVP) – efficient way to build a startup company
Minimum viable product is the simplest version of the software, ready to be put on the market. The MVP startup approach focuses on designing correct functionalities. The product only needs the key functionalities and the bare minimum graphical design. Additional development comes in the future. The founder of the MVP approach, Eric Ryes, introduced the “Lean MVP” approach in his book. According to the author, the key part of any product design is testing and collecting quantifiable data. This helps to create relevant and desired software.
Minimum Viable Product is the optimal way to verify market demand. When the product is constantly tested and backed with customer feedback, entrepreneurs can rapidly confirm the validity of their business idea. Moreover, a Minimum Viable Product is an optimal solution for startups. Thanks to involving a lot fewer resources than the usual product building process. Nevertheless, an MVP is a functioning product that can be useful to the customers. This is why choosing this approach is a good decision for a startup founder. Also, Lean methodology is directly corresponding with the steps commonly taken when creating a startup company.
4 steps you need to consider before building your startup:
- Verify the idea and check your competition.
- Create a physically existing company.
- Choose your business model.
- Expand your idea and keep working on it. It is worth mentioning that startups need financing. If you are looking for one, check out Business Angels or Venture Capital.
If you are looking to start a new business, you should consider a startup. It is a safer option than creating a full firm from the scrap. Also, it is easier to obtain financing for building a startup. Moreover, it will help you to test your business idea with a lot fewer resources spent. And this is why it is worth building a startup company in Poland. The market is still fresh, and the potential customers have a few problems to fix. A reasonable way to do so is to adopt the Lean MVP approach and build a battle-tested solution. Many successful firms started their journey as MVP. Among them are the giants like Amazon or Dropbox.