Lean Business Start-Up
In this much talked about Lean Business Start-Up It has come to my notice that more and more of the so called stars of the Internet blogging world, gurus on Lean Business Star-Up Its the greatest method since slicing the bread and is what you must do. Just to put up a diagram for the harden entrepreneurs among you fig1.
Eric Ries I love your ideas great book but we have to go back to basics challenge the knowledge of the wannabe entrepreneurs begin with the fundamentals. Do these young business people actually know and understand what a Value Proposition is, do they know how to go out and ask the questions of potential customers, do they know the questions to actually ask potential customers
Fig 1 example of a Lean Start-up
It seems to me a whole industry is growing around the new business Start-Up which is not advantages to the new start-ups. Books diagrams training sessions Webinars Seminars all costing money and valuable time when an entrepreneur should be spending time as a Funder get his/her show on the road.
For any start-up in any world, segment, area of expertise should be understanding the fundamentals
Who is the customer ?
Having identified the real customer
Find the pain problem call it what you will the sweet spot that will make them buy from you.
Having identified that sweet spot talk to them ask the question
If I can solve that pain will you buy from me ?
All the time they should challenge the idea by talking to the potential buyers of the service or product. Not developing the product wasting time designing. When and only when the customer has been identified clarified pigeon hold them you might only might have a business.
Using the jargon Value Propositions example fig2 can be worked on market research can be re-enforced you can begin to build your business.
Fig 2 Generic Value Proposition
To me its very simple do the fundamental work like identifying the customer asking the questions identifying the sweet spot know the rules apply them to your idea and it works. Every thing else is what I call business mechanics.
I am beginning to have a real problem with the so called support industry selling the notion the if you follow these method of that method rehashed from 5 years ago using the modern internet lingo that you will make a fortune. Not so!!!
1 Identify the customer
2 identify the problem based on you perceived business idea
3. As the customer if I solve it will you buy it.
boom you might have a business.