Read the Whole article at https://medium.com/authority-magazine/startup-revolution-robin-dan-meyers-of-magic-fabric-on-how-their-emerging-startup-is-changing-0b23fc38577a
Startups are at the forefront of innovation, driving change across various industries with fresh ideas and cutting-edge technologies. These emerging companies are not only disrupting traditional markets but also creating new opportunities and transforming the way we live and work. What makes these startups successful, and what can we learn from their journeys? As a part of this series, I had the distinct pleasure of interviewing Robin & Dan Meyers. Robin & Dan Meyers are partners in both life and Magic Fabric LLC. With Dan’s expertise in textiles and Robin’s background in Molecular Genetics, they’ve combined their passion for living fully and loving unconditionally to develop the patent-pending Magic Fabric technology. Together, they are bringing this innovative product to the market, merging science and creativity in a unique way.
“5 Things You Need To Create A Highly Successful And Innovative Startup” and why. (Please share a story or example for each.)
1. Clear Value Proposition (CVP) or Uniques Value Proposition is key. This is a startup’s ability to clearly define and communicate it’s unique value. A start up needs to answer the question, “why should customers care about this.” Being able to differentiate the business from any competitors and solve a real world problem will make you startup successful. For Magic Fabric there are many pet throws, but no competitor has the combination of our proprietary technology.
2. Strong Leadership is key. For us at Magic Fabric, even though we are partners in life, are very committed to be partners in business allowing each of us to handle our unique strengths. Have leaders who are strategic, resilient and adaptable so you can pivot if and when necessary.
3. Navigate Uncertainty: Although this is uncomfortable for most human beings, being able to pivot and adjust strategy is key based on new opportunities or market feedback. Don’t take it personally, but willing to thrive through uncertainty. Magic Fabric recently had this happen when we opened a new healthcare division called ShieldTek Pads.
4. Product Market Fit (PMF) is key in creating your successful startup. PMF means that a startup has created a product(s) that satisfies a strong market demand. This involves testing and improving the product to what the intended audience/customer wants. This is key in order to scale.
5. Balancing Scalability with Agility: This really starts at the beginning, because a successful startup begins with setting up the right systems and operations from the the beginning. Its a balance of handling demand without compromising quality or the customer experience. Magic Fabric deals with this everyday. There’s a cost to have the right systems in place, so always balancing our costs.
