It seems like startups are everywhere these days, doesn’t it? A lot of startup companies are achieving amazinig successes. Ever wonder how they do that? There’s a lot that everyone can learn.
The key tool is the “Lean Startup” framework. The essence is to find a product that someone will pay for, as soon as possible. The process is:
- As quickly as possible, build a prototype of what you think your target customers would pay for.
- Try it out with customers. Measure what happens. See whether customers will pay for your product.
- Ask for feedback:
- If customers won’t pay for it, why not? What’s wrong with it?
- If they would pay for it, what would make it even better?
- Refine your product concept and repeat
There’s a lot more detail than this, of course. Eric Reis’s excellent book, The Lean Startup is full of great detail and examples.