Every tech giant that inspire you once started out as unicorn startup. They improved and became technology visionaries and trendsetters.
There are now 394 unicorns that are recognized as market leaders and you can become one of them! But how?
The startup journey
Every business idea needs to be validated before it is developed. There are often many adjustments and improvements that should to be made before you begin to develop a Minimal Valuable Product.
When the idea is ready, you need to begin raising funds to develop the product further. Every unicorn company will advance through fundraising stages. There are some of them below:
- Pre-seed or Seed stage — At this stage, you need a powerful pitch deck. You can raise the money to begin building your MVP.
- Series A — It is time to upscale your business to reach new markets and optimize processes.
- Series B — It is time to upscale your business further, growing your team, sales and marketing.
- Series C — Another capital raising round is needed at this stage to scale your business into global markets.
Behind the scenes, companies have to face many challenges before they become successful. They have to take on competitors, find the ideal conditions and products for their customers and then create a successful team.
Unicorn startups’ pattern
What is the main key to achieve a unicorn? Create a product that is better than the solutions currently available on the market.
When you begin building a unicorn there is no guaranteed secret formula that leads to success, but we have a few helpful tips:
- Always consider changing direction and improving product. Your USP can be lost if it becomes a common thing for the big competitors.
- Recognize your weaknesses. A change of direction might not work or your idea is unlikely to become a unicorn. Learn to identify both minor and major failings and you will overcome them faster.
- Focus on your customers. It is important to first focus on a particular target audience.
The full article with a research of 52048 companies in 718 product niches you can find here.
