Sometimes it happens that within the culture of startups there are people who want to start, but they cannot get their business off the ground by taking for granted things that are really suppositions. Strategically, one way to boost your business is to take that idea from your head to the market as soon as possible, since taking a long time can cost you success. If you need a co-working space to give free rein to your initiative, in Palletized you will find the best service, a comfortable and accessible space. We invite you to follow these recommendations to grow your startup.
Transform your ideas into proven facts
Convert ideas, vision and assumptions into proven facts before resources run out. Answer these questions: Who are my clients? What characteristics should my product or service have? How much do I charge? What marketing channels are appropriate? To find a profitable, repeatable and scalable business model.
Find problems that are worth solving
All entrepreneurship is born to solve a problem or need of a particular segment of the market. Check what are your potential customers doing to solve your problem? Why are your current alternatives insufficient? And what are the economic impacts of the problem for them? The best ventures discover problems that customers have tried to solve by themselves.
Transfer your ideas to an initial business model
Lean Canvas is the perfect format to grow your startup, as it helps capture the vision and ideas of entrepreneurs. It is a one-sheet canvas that takes into account: customer segment, problem, value proposition, solution, channels, revenue model, cost structure, key metrics and competitive advantage. It identifies and transforms its most risky elements into hypotheses. Test the hypothesis with your clients with experiments that allow you to capture your vision and prove that you are creating something that people want and are willing to pay to acquire.
Identify and love your early adopters
Your potential clients can be grouped into different segments depending on their demographic characteristics, behavior patterns, motivations, objectives and even according to their degree of adoption of new technologies and the relevance of the problem to them.
Early adopters are important because they recognize that they have a problem or need, they are looking to solve it and have a budget to acquire innovative technologies. Visionaries, able to buy products without finishing or without trying, because they want to be the “first”. Find them, know their problems and needs, integrate them in the process of creating your product, test your prices and learn from them during the startup process of your startup.
Experiment with your business model
To transform ideas into proven facts and grow your startup, the Lean Startup Method proposes the creation of experiments to maximize learning in a fast and focused way. Create an element to validate the most risky hypotheses of your business model, present it to your early adopters and measure their acceptance, collecting qualitative and quantitative data. Learn, validate or refute your hypothesis, moving on to a new iteration of the Create-Measure-Learn cycle until you build something that the market requires.