As you will no doubt have noticed we are rigorously following the principles laid out in the Lean Startup movement.
Why is this? Because I accept that don’t know much about starting a business from scratch and as such I am very happy that an expert (Steve Blank) has been so kind as to lay out the step-by-step process to increase the chances of success. It is my intention to duplicate not innovate!
I realise that the journey I am going on to bring a seedling of an idea into reality is much the same as 99% of the startups out there but unlike most of these startups I am starting on the journey with a detailed map down a well trodden path.
Below is the high-level process I will follow as I look to develop the seedling of an idea in my head into a thriving business. As with everything in a startup this is likely to change and evolve as my learning and knowledge increases.
STAGE 1-CUSTOMER DEVELOPMENT
The aim here is to ensure we are building the correct product and to get customers interested in the offering. The focus in the early stages is on learning and pivoting.
1. Customer discovery:
Does my offering solve a problem for an identifiable group of users?
2. Customer Validation:
The market is saleable and large enough that a viable business might be built.
Achieve Product-Market fit
The point where you can prove that you can acquire new customers for less than what you earn from selling them your product.
STAGE 2- GROWTH & OPTIMISATION:
Once we have achieved Product-Market fit the focus shifts to proving that the business can scale and accelerating against this plan.
3. Company Creation:
The business is scalable through a repeatable sales and marketing roadmap.
4. Company Building:
Company departments and processes are created to support scale.