How to launch a startup, manage it, and test initial hypotheses

Alexander Kim, city — Astana, co-founder of Plix.kz and Dede Shop startups, @alexk1m

Rustem Itemirov, city — Astana, co-founder of Plix.kz and Dede Shop startups, @rustem_cvl

Launching a startup is an exciting yet complex process that requires careful planning and continuous research. Rustem and Alexander share their experience in launching their projects, discussing their first steps and how they approached testing hypotheses that helped determine product demand.

Market Research: The First Step to Success

Every successful startup begins with thorough market research. It is important to understand whether there is money and demand in the chosen segment. To do this, you need to:

1. Study competitors. Understand what is already offered in the market, which products are popular, and which problems remain unsolved.
2. Research customers. Understand their behavior, motivation, and needs.

Alexander Kim

In our case, the idea for creating Plix.kz arose from observations and the experience of my partner and co-founder, Rustem Itemirov, who had extensive experience in construction and his own WhatsApp communities. We started by researching customers and the market to identify problems and needs, and then began preparing a solution.

Creating an MVP and Testing Hypotheses

The next step was creating a minimum viable product (MVP), which we developed together with our third co-founder, Marat Kazguzhin, our Chief Technology Officer. Based on the completed MVP, we began testing our first hypotheses.

Rustem Itemirov

Testing hypotheses is a crucial stage that allows you to understand whether the market is ready to accept your solution. We started with initial sales and deals, which helped us confirm the existence of demand.

The greatest motivation comes from the moment when customers confirm the value of the product with their money. However, it is important to understand that in startups, most hypotheses may turn out to be incorrect. According to statistics, 9 out of 10 hypotheses fail, but we did not give up and continued our research.

Incubation and Traction

To boost motivation and accelerate development, we went through incubation at ABC Incubator by NURIS. This allowed us to:

— maintain traction under the pressure of trackers
— make our first sales
— start earning money.

As a result of the Demo Day, we won Pre-Seed funding, which we invested in product development. This helped keep the team motivated and improve product quality.

Advice for Startups

1. Start with quality research. Understanding the market and customer needs is the foundation of success.
2. Find the right segment and problem. Do not create a solution for the sake of creating one; solve real problems.
3. Do not lose motivation and keep moving forward. Failures are part of the process. If there is demand and a paying segment, continue searching and testing new hypotheses.

Launching a startup is a constant forward movement. Research, test, adapt, and do not give up. Good luck with your endeavors!