How to Save Up to $10k While Developing Your Startup

Starting a business can be exciting and rewarding, but it can also be expensive even before the development phase. To save up to $10,000 of your project’s budget, it’s essential to be prepared and knowledgeable about the process. First, hire a great specialist, such as a Business Analyst or a UX Designer. I’m personally for the second option 😉

If the hired specialists are real PROs, they will insist on a Research Phase, which is fair enough. One of the stages of this phase is a Competitor Analysis, which you can conduct yourself and significantly reduce the cost.

To do the competitor analysis yourself, the first step is to create accounts with the competitors’ products. Having at least three is a good start. Take screenshots of the essential features, and store them in a file structure in Figma Jam. Make notes on the monetization models of your competitors. From there, you can create a Matrix of Competitors to compare their functional scope and see how your project can stand out from the rest. Doing this job yourself can save you a considerable amount of money, and you’ll also become more niche-savvy. Watch my video to get more clarity!

With the proper preparation, you can save up to $10,000 while working on your startup. Doing this job will also make you more knowledgeable about your niche and help you reach your goals more efficiently.

When you’re ready to begin the development process, contact Dmytro Honcharov if you have any questions or need the assistance of pro designers.