Startups and company formations are exciting, but often full of uncertainties and challenges. A brilliant idea alone does not guarantee success. So how can you ensure that your vision can survive in the marketplace? Our “Starting a Business with Success” workshop will not only give you the answers, but also the tools to get your business idea on track for success.
Not tested, is not founded. Only testing can ensure business success.
The dilemma of starting a business
The euphoria of the first idea can be deceptive. Many founders are blinded by positive feedback from their immediate environment and overlook the value of a preliminary market test. Before valuable resources flow into marketing or development, the idea must be put through its paces
Testing for a success – more than just collecting feedback
Having an idea is the first step. But how do you make sure it wears? This is where the art of market validation comes into play. Many founders make the mistake of asking their friends and family for their opinion in the initial phase. These often love and support us unconditionally and naturally want to motivate. For this reason, they tend to give mostly positive feedback and withhold critical comments so as not to discourage or hurt anyone. But however well-meaning their feedback may be, it is often subjective and not representative of the actual market. It is not enough to merely solicit opinions. The market must be systematically and critically tested to identify the real potential of the business idea.
The constant search for the “product-market fit
Optimal interaction between what is offered and actual market demand is crucial. This balance – often referred to as “product-market fit” – is the holy grail of any business startup. In fact, it is the main reason for the difference between long-term success and early failure. Interestingly, the lack of this balance is also the No. 1 reason why many startups fail, and not, as is often assumed, the lack of financing from investors. It does a startup little good to receive large sums of investment capital if it has not achieved product-market fit. Money alone cannot solve the critical market challenges or meet the real need of the market.
Where many stumble
Many founders tend to work in the familiar and comfortable environment of their home or office without ever seeking direct contact with the market or potential customers. Only when they want to sell their product or service do they dare to make the first customer contact. In doing so, they run the risk of overlooking an essential aspect of entrepreneurship: direct interaction with the market and the real needs of the target group.
As Steve Blank, a well-known entrepreneur and academic in the field of entrepreneurship, aptly puts it, “Get out of the building.” Blank emphasizes the need for founders to step out of their comfort zone and interact directly with customers. This is the only way to understand real market needs and requirements. And as he continues, founders:inside often have to accept the hard truth: “No facts exist inside the building, only opinions.” In other words, they often have to realize that “their idea” or “their baby” may not be as brilliant in the real world as they originally thought.
The isolationism in which founders often find themselves in the early stages can be costly – both in terms of time and money. Without early market validation, they risk steering in a direction that does not meet actual market needs. Fortunately, today’s startup world offers proven approaches to escape these common pitfalls. Methods such as customer-centric development and the lean startup approach make it possible to constantly review, validate and optimize business ideas long before significant resources are invested. It is essential for any founder to understand and apply these methods to minimize the risk of failure.
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There Are No Facts Inside Your Building, So Get Outside.
Dynamic process of company creation
Understanding and systematically testing a business idea are indispensable steps in the early stages of any business start-up. This is the moment when an idea either grows into a viable business or sinks into the annals of forgotten concepts. Therefore, it is of utmost importance to approach this process with thoughtfulness and methodology.
A successful business start-up is a dynamic process, characterized by constant search, adaptation and testing. It’s not just about perfecting the product or service, but also finding the market niche where it fits best. This flexibility in thought and action, combined with the ability to learn and adapt quickly, is key to succeeding in today’s fast-paced business world.
With the right tools and strategies, any obstacle can be overcome. And in this context, Eric Ries is a name that cannot be overlooked. Not only did he create a new approach to startups, he also launched a movement that radically changed the way entrepreneurship is viewed.
As Eric Ries, author of “The Lean Startup,” aptly states, “We must learn what customers really want, not what they say they want or what we think they should want.” It is not enough to look at the surface of what customers are saying. It is essential to dig deeper, observe, analyze and constantly question. This maxim is not just a guiding principle, but the basis for an effective and efficient startup approach.
At the end of the day, the ultimate goal of starting a business is to create a sustainable business model that will stand the test of time. A model that adapts to changing market conditions, remains innovative and, above all, delivers value to its customers. Such a model is not only appreciated by investors, but also wins the trust and loyalty of customers. Eric Ries’ concept provides the building blocks and framework to achieve just that.
We must learn what customers really want, not what they say they want or what we think they should want.
For sustainable success: The concept of the Lean Startup
According to Ries, the main reason most startups fail is that they develop products or services that no one wants. Instead of following traditional business models, where the implementation of business ideas is often based on assumptions, the lean startup method propagates an iterative approach. Founders should consider all their assumptions about the market, product, and target audience as hypotheses. These hypotheses must then be validated or falsified through targeted experiments and direct customer feedback.
Changeability and adaptability
It is a fact that few startups go to market with the product or service they originally had in mind. During the validation process, new insights are often gained or the founders discover previously undiscovered potential. This ability to adapt and course-correct based on real-time feedback is a key advantage and can make the difference between success and failure.
It is essential to consider these issues from the outset and to return to them on an ongoing basis to adjust the course accordingly. The business world is dynamic and constantly changing, and only through constant adaptation, learning and iteration can founders:in succeed in this environment.
To be successful in the dynamic world of startups, it is not enough to have only theoretical knowledge. It’s about applying that knowledge and turning it into real action. In our workshop you will not only be trained theoretically, but also have the opportunity to work directly on your own business idea. In interactive sessions you will receive valuable feedback from the other participants as well as from experienced experts. This provides a unique opportunity to look at your idea from different perspectives, refine it and develop it further. Join our workshop and experience a holistic approach that combines theory and practice to achieve your business vision.