Advice for your first Startup

The Reddit user Robinhood93 appears to be a student at a university. In a recent question he posted on Reddit he asks advice about the startup his university team is starting as part of their project. This makes me feel that you are a business student.

Robin, I feel you! I read through your whole post which can be found here – Your team has some interesting ideas, some of them could be really viable too.

What I noticed is that you have lots of assumptions going on. For example:

In the importing luxury goods from China idea, you assume that people and especially students would like to get their hands on these products, that they don’t really know about, or they know about but cannot find them somewhere, as there is no retailer who sells them in the UK. You go even further and you assume that personalising such products (e.g. the phone cases) to a brand, you can sell it to universities and private companies.

Now I will try to work out an advice for you. In my advice I will try to include some things that you may have not thought about yet. Continue reading