Rather than write a business plan, it usually makes more sense to launch a stripped-down version of your business to create proof of concept and to learn what problems you’ll encounter going forward. As an added benefit, this can usually be accomplished without quitting your day job. Here’s how:
In fact, you don’t need a lot of money to validate your idea, at least starting out. Garrett Moon, cofounder of a startup called CoSchedule, said that, “When we did our first demos with prospective customers to validate the product, it wasn’t even built yet. In fact, our ‘product’ was a PowerPoint deck with a UI and hyperlinks that jumped from one slide to the next.” Here, specifically, are five ways prospective consumers can help you:
There are 2 types of organizations — those that start with a mission and find a solution (think Kiva’s micro-financing) and those that find a solution to a need, then come up with a mission (think Facebook). The story behind the first is much stronger, but the latter is usually more promising and further along towards Silicon Valley success. We were in the first bucket. Our mission was clear: we wanted to educate and compel consumers to be better stewards. But our solution? That was our quest.
Traditionally, startup businesses draft a business plan for three specific reasons: to articulate their vision for the business, to document how they plan to solve key challenges, and to pitch their business idea to potential investors. But what if I told you that business plans for startup companies are usually not worth the effort? […]
Is your startup struggling to gain traction? Imagine generating interest in a toilet paper company… Helping save the environment is just one of the many reasons that inspired Kufus, a former Boy Scout, to launch a startup that offers toilet paper on a recurring subscription-based model, similar to other businesses like Dollar Shave Club and BirchBox.
Just because you build it, doesn’t mean they will come (unless of course you’re a Kardashian.) For the rest of the hustling, everyday entrepreneurs sitting on a great idea, you have to build it- promote it- and then they might just land on your online store and shop. The secret recipe to digital success is often in the elusive and mysterious role of marketing. Here are 5 clever marketing tactics used by digital entrepreneurs on the DIY e-commerce platform Weebly that helped them cross the million dollar threshold last year.
As the CEO, your job is to stay sharp, well rested, emotionally stable, and self aware. The moment you stop being any of those things, you suffer, your team suffers, your work suffers, and your company suffers. Which means, the name of the game isn’t to do “more.” The game is to do more than enough, so that you are competitive and making terrific progress, but not so much that you’re running a sprint pace during a marathon. – Nicolas Cole
Imagine a business that contains no fulfillment, deliverables or customer support and can be sold for 25 times its monthly net profit. Now, imagine this business also maintains a consistent 30 percent margin and could be managed without any full-time employees. Sounds too good to be true, doesn’t it? Well, it’s not.
As any founder knows, lessons learned early on in the business startup journey can pay dividends at a later stage. Those valuable learning points and light bulb moments also make useful tips and advice that can be passed on to help other new entrepreneurs as they embark on their business ventures.
See, if you’re a good entrepreneur, you’re good at pretending you know what you’re doing even when you don’t. You can come up with confident sounding answers to hard questions, deliver them with passion, and then go figure out how the fuck to do what you just promised (or who can help you figure it out). But the internal experience of keeping that up, day to day, isn’t always so great. And that’s due in part to the predominant messaging that says you should always seem like you are “crushing it.” Like somehow being tired, overwhelmed and scared isn’t also a part of “crushing it.” Only a few of my very closest advisors and friends have ever really heard what entrepreneurship is like for me. Most people don’t really want to know how the sausage is made. […]