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Idea to Launch

On September 4, 2018 in notes • 1 minutes read

Tags: entrepreneurship • startups

Quick notes on the first steps in launching a new company.

Step 1: Ideate

Goal: Pick an idea or to validate with potential customers.

1. Create an idea list
2. Define the business metrics, effort to ROI ratio and pick an idea (or 2 really good ones)
3. Image the product that would compete with your idea and succeed; how can you avoid this?
4. Pick the best idea for the next step

Step 2: Validate

Goal: Validate your idea by socialising it with potential customers.

1. Identify people who we think will use our end product and interview them
2. Confirm we are solving the problem and the problem problems which are more worthwhile to solve before we start working on the one we want to
3. Go to step 1 if required and iterate

Step 3: MVP

Goal: Build a Minimum Viable Product (MVP) to elicit key input from potential customers.

1. Show an MVP of the product to the people we have interviewed in Step 2.
2. Listen to their feedbacks and iterate.
3. At every step we need to be conscious of all key metrics we define in Step 1.

Step 4: Launch

Goal: Get your product out there!

Once the MVP has gained traction and is usable, chart a launch plan with marketing and PR, a customer acquisition strategy, pricing plans, roadmap.

Move forward and do not look back.