#238 What Is SMU? How will it help startups and entrepreneurs?
ShownotesEvery year, around 472 million entrepreneurs and 305 million enterprises are formed.1.3 million of those startups are in the technology sector. Regardless of the industry, the majority of them fail.The continuous rise in entrepreneurship is a sign that economies are thriving.However, as the number of new businesses grows, so do old, often incorrect notions about startups.Myths can be found in every aspect of startup culture, from lifestyle and invention to fame and money.Getting a new company off the ground is difficult enough. Staying grounded when navigating the hurdles of establishing a new business can be as simple as staying honest and differentiating fact from fantasy.Here are the 3startup myths uncoveredMyth #1: Startups need a unique idea to succeedMany people believe that a startup is a new company that has come up with a novel business idea, intends to make an immediate effect, and eventually takes over the market. This is a dangerous misconception. Many people believe this myth since startup success is often modeled after unicorn celebrities like Mark Zuckerberg, Larry Page, Elon Musk, Jack Ma, and others.This, however, misses the key reason for their success, which is due to their business strategy, product positioning, and customer experience, rather than the novelty of their concept.Facebook was far from the first social media platform. It was a rip-off of Myspace and houseSYSTEM. The first search engine was not Google. Overture invented search monetization, not Google.Farmville was not created by Zynga; it was a copy of Farmtown. Farmtown was, in turn, a rip-off of HappyFarm, a Chinese game. Microsoft Windows was not the first graphical user interface operating system. Despite being technically inferior to its competitors, it was able to win the market share battle between IBM and Apple. This was simply because Microsoft, more than IBM or Apple, knew what customers really wanted. Support the showFollow me on Facebook ⬇️https://www.facebook.com/manuj.aggarwal❤️ ID - Manuj Aggarwal■ LinkedIn: https://www.linkedin.com/in/manujaggarwal/ ■ Facebook: https://www.facebook.com/realmanuj■ Instagram: ...