Join Whitney Johnson for an in-depth discussion in this video Finding your first customer, part of Entrepreneurship Foundations.
- You've got a business idea.…You're confident that there will be customers,…but you don't know.…It's time to find out.…To do this as quickly and inexpensively as possible,…I recommend the Minimum Viable Product…or MVP Approach popularized by Eric Reese,…author of The Lean Start-up.…The MVP is the version of the product that allows…you to collect the maximum amount…of learning about customers with the least cost.…It's an iterative process of idea generation,…prototyping, presentation, data collection,…analysis and learning.…
A good example of this iterative process is Groupon.…Groupon was initially intended to be activism platform…bringing people together to fund raise for a cause.…The founders prototyped and tested this idea,…collected and analyzed data.…Results were disappointing so they circled…back to idea generation.…The next idea was group coupons.…The prototype was a WordPress blog…skinned to say Groupon with a new post every day.…
They sold T-shirts in one color and size.…In the write-up they'd say,…if you want a different color e-mail us.…
- Finding your idea/problem to solve
- Finding your first customer
- Writing a business plan
- Deciding on a legal structure
- Building a team of employees and advisors
- Marketing your business
- Building a website
- Minding cash
- Managing stress
- Funding growth
- Balancing entrepreneurship and life
Skill Level Appropriate for all
Financial Literacy: Reading Financial Reportswith Rudolph Rosenberg1h 25m Appropriate for all
Management Foundations (2013)with Britt Andreatta2h 9m Appropriate for all
1. Finding Your Big Idea
2. Starting Your Business
3. Building a Team
4. Marketing Your Business
5. Scaling Your Business
6. Funding Growth
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