Tag: branding,%20customers,%20market%20context
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In venture capital and tech incubator circles, the concept of lean startups is all the rage. We’re fans of the idea, and think it has merit well-beyond Silicon Valley. Here’s a brief definition of lean startups. Think about the implications for your venture:
The basic idea behind the lean startup approach is to get a product into the hands of customers as quickly and inexpensively as possible, find out what customers think of your product, and then modify that product as needed. The point is to find out if there’s a match between your product and what the market wants, with as little risk as possible. Here are a few lean startup tactics:
1. Design a minimum viable product. Hold off on all the bells and whistles you’ve envisioned. Strip your design down to the bare essentials you’ll need to determine whether customers will like / use / buy your product. By sticking with this minimum viable product, you can determine the fit between what you’ve got and what customers want faster and cheaper. The book Rework provides a good example. If you start a hot dog company, you can do without fancy hot dog carts or exotic condiments, but you’ve got to have the hot dogs – they’re your minimum viable product.
Ask any founder who has hit a home run, and they’ll admit that being in the right place at the right time was key to their success. This coaching package will teach you how to look at the big picture, and use it to your advantage. We’ll explain the fundamentals of market size, growth rates, trends, and competitive dynamics, and what they all mean for your startup. Someday soon, you’ll be the one sharing success stories.
At the core of every successful business, there are satisfied customers. How do you find out exactly who your customers are, and what they need? An UpStart coach will show you how. You’ll learn when to use your gut, and how and when to conduct research. How to distinguish between what customers say they want, and what they’ll actually do. And you’ll learn to do it all within a startup budget and time frame.
“Thanks for the great coaching session! I came away with confidence that I will start my business with a strong understanding of customer needs. I’ve already arranged interviews with customers and retailers.”
Branding isn’t just for Coke and Pepsi. It’s critical for startups, too. Branding is far more than just a logo – it’s the personality that permeates every customer experience with your products and company. It’s also your unique promise to your customers. Done well, branding can set you apart from – and above – the competition. Your UpStart coach will teach you the fundamentals of branding and you can put them to use right away.
“UpStart clarified our vision, and helped us develop and communicate our brand. Your methods were straightforward and action-oriented. Thanks!”
