The article provides examples, data, and questions to help you evaluate your idea and market at each step. It also warns you about common pitfalls and misconceptions that can lead to failure.
Redefining MVPs: A faster way to derisk new product ideas
building an MVP should (1) clarify what founders need to understand about customers before building anything, (2) help founders identify the minimum amount of product that would need to be built to validate their idea, and (3) very specifically outline what features should be excluded entirely from the MVP.
"I really wish founders went in with the mindset of, 'I don't care if it takes two years to work'. How do you set your mind up so that you are not immediately disappointedโ
How to come up with and validate your startup idea
Quick tips:
1. Build prototypes and test your early ideas on real customers; listen to their responses, and anything short of โI want this!โ is really a โNo thanks.โ
2. Donโt build a full product until youโre feeling real pull from the market.ย
3. Figure out who you can sell to most easily, and start there. Market analysis can come later.
4. Develop a product that unlocks revenue for your customers.
great article for everyone to get a good perspective on the value of community, regardless of what youโre building (company or a podcast). Building an amazing product and experience is only half of the picture. The rest and arguably the important remaining half is the community who are on this journey with you because theyโre inspired by your mission. Pivots are inevitable so product etc will change; but the loyal community you build and look after will always be an asset to learn from and bounce off ideas.
In this lesson students understand the value of customer interviews to validate several aspects of their business model. They hear what a customer interview sounds like and learn how much easier it is to design, and market, a product to customers after having spoken to them.
Your goal as a founder is to learn. Learning in the most efficient way possible means balancing learning deeply and moving quickly. Surveys achieve neither.
In this exercise, students get to learn the importance of storytelling as they design and build one-of-a-kind paper aircraft and try to convince the rest of the class that their design will fly the best. A lesson from teachingentrepreneurship.org
A lesson created by Teaching Entrepreneurship.org. To introduce students to the 9 components of the BMC, Dr. Osterwalder starts by giving students a set of business model hypotheses and asking them to place each one in the appropriate box of the BMC.
From this process, youโll get a short document that defines what youโre building, why youโre building it, who your core audience is, what your company values are, and a few ways to think about your companyโs positioning in the market.
Pitchfest is an opportunity for kids to pitch their business or charity ideas to a panel of entrepreneurs and business people. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
Pitchfest with The Tempest Two and Liam Foldi and Emily Gabriel
Pitchfest is an opportunity for kids to pitch their business or charity ideas to a panel of entrepreneurs and business people. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
Pitchfest gives kids an opportunity to pitch their charity or business ideas to a panel of entrepreneurs and business people. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
Pitchfest with Marc Randolph, co-founder of Netflix
Pitchfest gives kids an opportunity to pitch their charity or business ideas to a panel of leading entrepreneurs and business people from around the world. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
Pitchfest with Naomi Simson, Nick Bell, Jack Berne and Fletcher Carstens
Pitchfest gives kids an opportunity to pitch their charity or business ideas to a panel of entrepreneurs and business people. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
Pitchfest Full Episode Matt Higgins, Nick Stone, Layla Kennedy and Declan Williamson
Pitchfest is an online production and entrepreneurial program giving kids an opportunity to pitch their charity and business ideas to a panel of leading entrepreneurs and business people from around the world. The aim of Pitchfest is to help kids realise their potential and inspire other kids to feel confident in their abilities, to be creative and feel empowered to bring an idea to life.
A documentary about young web entrepreneurs in the U.S. and Europe. It contains interviews with the founders of Vimeo, Soundcloud, Kiip, InDinero, Dropbox, Foodspotting and many others who talk about how they started their company and their lives as an entrepreneur.
How to define a market segment as a group of people who have in common a role inside a context and they are facing the same problem that triggers a specific emotion.
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Personality Types Online Test
This personalities test is a useful exercise to complete with students to assist with startup team formation.
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Lost at Sea Team Building Exercise
A useful team building exercise for emerging startup teams.
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How to Build and Effective Brand Style Guide
A 48 page guide to help students with developing their startup branding (covers brand identity, brand names, logos, colors and brand voice).
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Startup Storytelling Template
A tool for encouraging students to pitch their startup using storytelling.
The Field Guide includes a step by step guide to help answer the questions:
What is impact investing?
How does it compare to traditional investing and how is it different to philanthropy?
How is impact investing evolving worldwide? And in Australia?
Why is it important for foundations?
What are Australian charitable trusts and foundations doing about it?
In this beginnerโs guide to term sheets you will see what a term sheet is, what its role is in the investment process, why you should be using term sheets and how they can be effectively utilised. Youโll also learn some common terms and clauses and why they're included, and term sheets for different situations.
Itโs hard and uncomfortable to do new things, which tempts us to spend months of planning and creation in isolation to get it right. But you donโt learn anything in the basement.
Self-regulation - Pursuing an idea and not being afraid to pivot
โข Identify indicators of a success in relation to change
โข Identify importance of self-awareness and emotional intelligence
โข Activate new ways of thinking about success and how to measure success
Teachers Master Class- Embracing change - Emotional resilience to pivot
โข Identify indicators of a studentโs success in relation to change
โข Identify the importance of self-awareness and emotional intelligence
โข Activate new ways of thinking about success and how to measure success
Role universities play in supporting and enabling grassroots entrepreneurship
How can universities better support the transition between graduation and higher education so that more young people are prepared to apply an entrepreneurial approach to future challenges?
The Academy for Enterprising Girls is a website jam-packed with great stories and inspiring videos to help young Australian girls like yourself build core skills to start your own business
Bubble's "How To Build" series contains step-by-step walkthroughs and tutorials that show you how you can create any type of web application, no code necessary.
Explains the gap between MVP with early adopters and minimal viable revenue (break-even) and then minimal viable traction where things start to take off
If you serve all your customers you will eventually become a Frankensteins's monster, instead focus on the customers who would miss you the most as they are most likely to be the most profitable as well