It’s surprisingly common that startups don’t carry out enough research to back up the hypothesis around their idea. At times, they completely misunderstand the value proposition on which they build their product. In simple terms, they try to solve a problem which doesn’t exist or can easily be solved with alternative solutions.
You have that Eureka moment when you realise your creative idea has the power to change the world. However, only few of us are able to successfully execute them and that makes all the difference.
A well-established corporate has experience ranging from a few year to decades that germinate from within the foundation of a tiny business venture. While a corporate thrives on its experience to chart a new route for entrepreneurial success, a startup would look for alternative, pathbreaking and disruptive ways to climb the ladder. Startups do things differntly. Their way of defining vision, goals, marketing objectives is thoroughly offbeat and that’s what sets them heading towards the pinnacle of success.
Typically, Corporates would have a strategic team deciding to develop a new product. However, before they decide, they will conduct a large scale market research, strategic planning, user research, etc. whereas in a Start-up, typically, the founders experience the need themselves and they perform a basic research before deciding to develop a new product
There is no right or wrong way, but just the most suitable way within the bounds of the situation for the company and the product that you want to develop.