Its called How to Build a Startup. Steve Blank has done more than anybody to codify this material into a useful and practical process for customer development and searching for a sustainable business model. This course has delightful whiteboard animation video segments that break it all down. Start here.
This book by Giff Constable is an incredible resource for customer development. And its free to download. Giff’s generosity in sharing this clear and practical take on conducting qualitative research is inspiring. Take advantage of it.
You can download and print templates of the business model canvas. Just Google it.
Keep and archive of iterations of your BMC assumptions and pitch deck. This will help you see how you have evolved your thinking in response to customer interactions etc.
Create a two slide presentation with the following:
Logo, name, tag line
Value proposition/customer segments
Detail and document your Customer Discovery and Validation process and progress.
· Customer interviews
· Data summary from customer interactions and interviews
· Other information
Minimal Viable Product
Describe your Product/service mix and main/core Feature set.
Provide an image or description of your prototype.
· SM posts
· Anything else
How are you reaching your customers?
Social Media accounts
· Mailchimp or other service
Stores and outlets
· Bricks and mortar
Describe your Competition and how you deal with it. What are the biggest threats?
How does you funnel look and operate
What are the conversions?
What is the status, if you have any, of your:
What insights have you had?
What course corrections or pivots have you made?
What does success look like? What do you want your business to achieve?
Revenues, net income, number of customers, return customers, new customers, units sold
KPIs or metrics that you have created
Create a detailed 100 day plan
Maintain and update it as you go along.
These are my general thoughts on things to think about and resources to help get started. Please leave any comments about other things you have found helpful or important points that I have left out.
Thanks for reading!
Share this post
Author, Entrepreneur, & Teacher
Receive my 7 day email course
Take your finance skills to the next level with my 7-day corporate finance email course. You'll learn all the essential topics from financial analysis to risk management in a fun, engaging format. Each day, you'll receive an email with practical examples, exercises and resources. Perfect for aspiring finance pros or anyone looking to expand their knowledge. Get ready to transform your finance game!
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
If you like this article. Here are some more articles I think you might like.
The whole process of funding and developing startups has become more widespread because the cost of getting a product to market has dropped so precipitously in the past couple of decades from millions of dollars to typically anywhere from under $20,000 to $500,000.
To perform effectively in a job and advance to greater responsibilities requires developing a well rounded set of skills. Every job and every industry has its specifics but these skill sets are general and apply across all jobs. Skills are fundamental for turning a job into a career trajectory and this trajectory is part of our personal fulfillment in life.