When it comes to business startups, one of the biggest mistakes is when the entrepreneurial focus is only on the products or services that need to be developed. To escape this, here I will share one business startup mind-map in order to focus on the right things.
Before several days, one of my clients comes to me with their prepared product and wants to help them to build a strategy to go on the market. However, they already have built a product, probably months and maybe years of their efforts was integrated into the product before they really know what the future customers will want.
The product is important, and that’s the fact. If you don’t have a product, you don’t have a business at all. But, you don’t want to have any type of product. You want to have something that customers will want to buy. You want to have a product that customers will want to pay you for in exchange. You want to have something with all features, and all benefits that the customers will want to be integrated.
How you can build something before asking the potential customers?
Because of that, I have drawn a business startup mind-map. This is the first draft version that will be updated in the future.
As you can see, it’s not a simple process that can be presented in simple two or three steps. You start with the business idea, but also you test your business idea. The idea in your mind is only a draft version or starting point for developing your business.
You decide to start a business because you have the business idea in your mind, but you don’t start to build your physical commodity. Instead of that, you start with customers. You need to analyze them, talk with them and test your initial idea. The results will be tailored business ideas. With that information, you can start modeling your business. The most important question that modeling needs to answer for you is whether or not the business will make money. Again, your business model can improve your initial idea.
Now, when you know what your customers want, and how your future business will make money, you can start building your commodity. But, again, you will need to use the customers if you want to build something really great, something that will override customers’ expectations.
Here is not the end of the process. You have your draft commodity, again you use customer feedback, and you will probably need to change your business idea and business model.
That’s a process of many iterative steps until you come up with something really worth it, but for your customers, not for you as an entrepreneur.