#Social empires episode 1 how to#

Build a small group of beta-testers and iterate on the technical side of your solution.īesides, it is time to build the foundation of your future company: if people love your early solution, you have to really understand and be able to explain why. How do we go to Mars? First things first. How do you create an empire? One step at a time.

Build a prototype as early as possible, and don’t be afraid of its flaws: every innovation in every revolution has something crappy about it. Practically speaking, this means starting by developing the underlying technical layer that will support your solution and testing it early on with a small community of beta-testers.Ĭonvert your ideas, theories and intuitions as quickly as possible into real products or services for real clients that will really use the solution, and not just once. Solidify your ideas into a first technical layer and test it

Validating market appetite (adoption, virality, engagement, stickiness) through an MVP will also help you shape and fine-tune your first product or service before going public (most important features, user experience and customer journey, ergonomics), do a little bit of real-life A/B Testing, have a back-and-forth with early adopters, and learn from them how to find the right direction, right from the start of the company.

can you build a solution for that problem?Īnd “if you have to fail, fail fast”.

if there was a solution, would they buy it?.

do consumers recognize that they have the problem you are trying to solve?.On your feet: build an MVP and begin your iteration routineīefore you invest time, energy, money… you want to check your assumptions and validate the market’s potential appetite (the use case) as soon as possible: is my product or service valuable for customers, what do they look like, where are they, are they willing to pay for it, how much, how often, for how long, do I need to find revenue sources elsewhere, etc.Īt this stage, as The Lean Startup method states, the question is not “Can this product be built?” Instead, the questions are “Should this product be built?” and “Can we build a sustainable business around this set of products and services?” acquiring new customers is too costly, too complicated, or not scalable,.they do not create long-lasting relationships with customers,.customers (or anyone else) are not willing to pay for it,.they do not bring (enough) value to potential customers,.Many possible reasons could then prevent entrepreneurs from creating a successful business: a solution that they want to bring to the market, and from which they hope to build a company. My advice is to always begin with the end in mind: a (potential or possible) consumer need.įrom there, entrepreneurs create a product or a service, i.e. help clients do certain things better, faster, more efficiently,.help clients get rid of a problem or pain,.Begin with the end in mind: everything starts with a consumer need, the “use case”īased on my former experience as a founder and my recent job as an investor, I see three main types of starting points:

#Social empires episode 1 how to#