Sometimes a simple checklist can go a long way to keeping you organized and on track. We find this very applicable to our work with early stage startups. We have shared in the links below our checklists for what we consider to be the first and second experiments necessary to get your business idea to problem-solution fit. The first checklist is ... Continue reading
Resist the temptation for perceived certainty Why does a startup seek certainty? Because certainty means safety. Certainty in a business model means that it works well enough to be considered successful and viable. There is a natural, human desire to seek out the comfort in certainty, however, often the certainty is just perception and this wi... Continue reading
As you look to launch your business, you will likely find mentors, bankers, and other resources providers that will ask you for a traditional business plan. By utilizing the Business Model Canvas and customer discovery methods, you will have something far superior than just a business plan full of assumptions and guesses. You will have a tested ... Continue reading
What type of business innovator are you? Are planning for disruptive innovation or incremental innovation? Incremental innovation defined An incremental or sustaining innovation is typically an improvement to an existing product. The business model doesn’t change and the business runs pretty much the same except it enjoys the benefits the ... Continue reading
Team clarity and focus is important for existing businesses and startups. If you feel your business is lacking direction, it’s time to assess, clarify and communicate the vision and future of your business. A few months ago, I felt our team was struggling. We had two new team members, and although there was lots of activity, we weren’t ve... Continue reading
Borrowing innovation is easier than inventing from scratch! Think you have to start your invention from scratch? Why not combine existing innovations? Here’s two examples of incredible innovations over 100 years apart: Henry Ford (1908) Henry Ford actually borrowed three existing innovations for his assembly line: i) Interchangeable part... Continue reading
I hope you consider vulnerability a strength. Being vulnerable saves you money and time in a startup – lots of it! Most startups start as an 'isolated belief' inside the founder’s head. Founders can incubate on their ideas inside for years. But if you want to eventually have a customer pay you for your valuable idea, you must expose it – an... Continue reading
Supporters of the Business Model Canvas (BMC) seem to have a tendency to quickly throw the idea of a business plan under a bus. But I don’t think it’s correct to think of the BMC and a business plan as opponents. Filling out your business model canvas involves going through the different sections and developing your hypotheses, or best guess... Continue reading
There is now sufficient research, reports and understanding of the startup ecosystem, and it’s safe to conclude a startup business is very different from a successful, established business. But since a lot of the world has not caught on to the radical differences, startups that try and act like established businesses tend to make two big mista... Continue reading
Do you have a great business idea? Is it a secret? Do you know for sure in your gut it will be a great success? Great ideas are often the beginning of a great business. The process of taking an idea and making money with it is called a 'commercialization strategy'. In the web space it can also be referred to as 'monetizing' your idea. Often,... Continue reading
