stages of development - International Business Growth Radio Network

BUILDING OPERATIONS FOR A STARTUP - SHOW 3: WHAT MUST YOU KNOW BEFORE BUILDING IT? WILLIAM EASTMAN

17/1/2022

Quick review. In Show 1 we provided an overview of our 13 weeks together with an emphasis on startups as experiments until the business idea is proven.

Show 2 expanded on the 'Startup as an Experiment' idea to cover some of the tools which we will expand on today.

EPISODE 9: WHAT IS THE PLAN TO BUILD THE PROTOTYPE?
This is consulting in its purest form - knowing the questions to ask. Our experience is answers are easier than questions and when engaging in this type of experimental design to prove the business idea there are 3 distinct stages in the process. Although initially only the first two matter. Once you have a winning offer, the last stage takes you from a tested prototype to a repeatable and a 'manufacturable' offer.

Topics:

What Is The Design?
How Are You Going to Test It?
What Must You Learn to Build It Right?

EPISODE 10: EXPLORING THE PROBLEM
This is the hardest step because of the need to fully understand the problem or aspiration from the customers perspective and that might have many layers. Also you are under considerable pressure to get started. Every day you don't have something to sell precious capital is being burnt up. Resist the pressure to shortchange this step and use it to make every day count.

Topics:

What is the Context of the Problem?
Why is the Current State Not Working?
Create a Problem Statement to Solve?

EPISODE 11: BUILD THE RIGHT THING
Now that you have enough quality information on the aspiration or problem, the next step is to build a prototype that is minimal in its offer (MVO) but complete enough for the customer to use. In many ways this step can be viewed as the opposite of R&D (Research and Development) - D&R - Development and Research.

Topics:

What Must We Know Before Starting?
How Should We Build It to Learn?
How Should We Measure Performance?

EPSIODE 12: BUILD IT RIGHT
If you get this far what do you have, what do you know?

You will have proven the business idea is viable and there is at least an early market for you offer. Now you can focus on building a full featured offer and standardizing the support process. You have made the transition from an experiment to a business.

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