Nowadays, more and more people are getting into the startup businesses. This is attributed to the success that has been evidenced by the former startups and more people believe that they can strike gold if they delve in the same.
And they can, according to William Saito. The Japanese businessman went on to outline some of the key areas that people starting new businesses should focus on. Saito, who was born in Los Angeles California is the eldest of three children. His parents immigrated to the US in 1969 from Japan, two years before his birth.
One of the areas Saito encourages budding entrepreneurs to focus on is marketing. This is because it is important to reach one’s target audience and this can only be achieved through coming up with a unique marketing plan as well as a brand message. Saito encourages brands to hire marketing consultants as they have extensive knowledge and expertise in the field.
He also urges startups to fill a niche. This entails finding a challenge to address and coming up with a product or service that your audience can buy. Filling a niche will also make your startup worth funding from venture capitalists and potential investors. Saito also exhorts startups to acquire capital through natural, organic growth as opposed to taking up huge loans at the start. This will alleviate potential risks if things go awry.
In addition, they should strive to come up with a company culture as it will affect the company’s long-term success. This is because it adversely affects the kind of employees that will join the company.
Saito has amassed a wealth of knowledge through the numerous companies he has started and invested in. He started off with a computer security venture while still in junior high school. While attending university, he incorporated the firm as I/O Software. William Saito later sold the company’s business assets in 2004 to Microsoft. After this move, he moved to Japan where he was actively involved in investing in numerous Japanese startups. In 2011, he was named a Young Global Leader of the World Economic Forum. William Saito has also been an adviser in numerous capacities. He was a cybersecurity adviser to the Prime Minister Shinzo Abe, to the Cabinet Office as well as an advisor to the Ministry of Economy, Trade and Industry. In the private sector, he was a strategic advisor to Japan Airlines and shared his expertise with JAL concerning its IT strategy.