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Greg Isenburg – Co-Founder & CEO Late check-out, a product studio and agency that designs, builds, and acquires community-focused technology businesses. IN tweet, he laid out a list of 20 elements that will define the future of startup creation. Here we will delve into each of these points to explore the new era of entrepreneurship.
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20 elements that shape the future of startups
- MVP speed (1 time per month): The rate of creation of minimum viable products (MVP) will decrease dramatically. Startups will strive to release a new MVP every month, fostering a culture of rapid experimentation and iteration.
- AI Acceleration: Artificial intelligence will play a key role in startups both in product development and decision-making processes. This will lead to a more efficient and streamlined business.
- Superniche – new niche: Targeting ultra-specific market segments will become more common as companies seek to stand out and forge close connections with their customers.
- Community 1st, Software 2nd: Community building will take precedence over software development. This approach will create strong brand loyalty and promote organic growth.
- First no code, then some code: Platforms without code will become the main tool for creating startups, and traditional coding will fade into the background. This democratizes the creation process and allows entrepreneurs to focus on innovation.
- 10 times more automation: Automation will become an important efficiency factor in startups, enabling leaner teams and smoother workflows.
- Global Teams, Localized Products: Startups will increasingly be built by global teams, but their products will be tailored to local markets to better meet customer needs.
- 95% dominated by individual entrepreneurs and micro-entrepreneurs (teams of less than 12 people): The startup environment will be dominated by individual entrepreneurs and micro-entrepreneurs, leading to more diverse and flexible businesses.
- Pop-up Digital Opportunities: Apps and platforms that only work at certain times or at certain times will become more common, creating a sense of urgency and exclusivity.
- The Holy Trinity of Marketing: Successful startups will need to achieve product/market fit, content/market fit, and community/market fit to really gain momentum.
- Half-robot/half-human teams: The combination of AI and human talent will form the backbone of startup teams, bringing together the best of both worlds for optimal results.
- Accelerated by “boring marketing”: Effective marketing strategies that may seem mundane or uninteresting will play a critical role in a startup’s success.
- Multiple sources of income: Diversifying income streams will become the norm as startups look for different ways to generate income.
- Design matters: The importance of design will continue to grow and high quality aesthetics and user experience are non-negotiable.
- In partnership with creators: Creators will play an important role in distributing and promoting startups, using their established audience for greater reach.
- Similar to the game: Gamification elements will be integrated into startups, which will make them more attractive and interesting for users.
- Purposeful Lunar Shots: Startups will increasingly focus on making a positive impact on society by attracting both customers and investors who share the same values.
- Productive agencies for cash flow: Agencies such as the design agency Dispatch Design will offer standardized products to generate a steady cash flow.
- Product studios are becoming the norm: Product studios that develop multiple products at the same time will become a popular business model in the startup world.
- 99% MVP won’t need venture capital: Venture capital will become less important to most MVPs as alternative funding sources and bootstrap gain momentum.
The future of startup creation will be an exciting journey marked by rapid experimentation. As the landscape evolves, entrepreneurs will need to adapt to new trends and strategies to stay ahead of the curve. Using artificial intelligence, code-free platforms, and purposeful missions, startups can succeed in this new era of entrepreneurship.
Related: 18 Inspirational Lessons from Entrepreneurship and Leadership Goats
For those who want to learn more about the future of startups and get valuable insights from Greg Isenberg himself, you can order a 1 on 1 video call with him through the intro. This is a unique opportunity to speak face to face with the thought leader and founder for practical advice.