Showing posts with label Launching a Business.Investment. Show all posts
Showing posts with label Launching a Business.Investment. Show all posts

Thursday, March 16, 2017

5 Favors to Call in When Launching a Business



Starting a new business, particularly in the early stages, is a big commitment. In making the leap into entrepreneurship, would-be entrepreneurs would do well to leverage their network of people -- their family, friends and business associates -- as a critical resource. Here are five favors that all new entrepreneurs should call in during the early stages of their startup journey.

1. Try out my prototype.


Starting lean is the reality for most entrepreneurs. Making a large investment in a fully developed product or service offering may not be possible, let alone a good strategy. Eric Reis, in his book The Lean Startup, popularized the concept of the minimum viable product -- the most basic useable prototype. Friends and family can be a great resource, willing to review or try out an early prototype and provide critical feedback to the design process.

Gathering as much information as you can early on can reduce the amount of uncertainty around a potential business. It clarifies the extent customers would be interested in what you want you have in mind. It will also indicate how much design work would be necessary to get your product or service to a level of interest sufficient to consider launching a business.

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