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Too many businesses spend months, sometimes years perfecting a product that they think people will want, only to discover once they release it that there’s little or no success.
The cause? Lack of a solid business plan and strategy.
You see, most startups falsely believe that developing a high-quality product is the most important part of building a successful business. They believe that once this is done, everything else will magically fall into place.
In reality, however, product development is only a small part of the business as a whole.
In fact, in order to succeed, there’s something crucially important that every business needs to do before even starting to design a product.
It’s called product validation. In other words, making sure that there’s a big need for the product before it’s released.
While this step may seem self-evident and logical to some, it’s shocking how few businesses actually do it. Indeed, “no market need” was cited as the number one reason for startup failures in almost half of the cases according to a study by CBInsights.
You see, most founders become clouded by their personal passions, their preferences, and a confirmation bias. This sets the wrong course from the very start and almost always results in wasted time, money and energy.
We can keep this from happening to your business. We’ll help you develop a fast and effective strategy for creating a minimum viable product (MVP), and getting it out there on the market for validation sooner than you ever thought was possible.
We’ll then gather feedback, measure the results and help you plan the next steps to give your business the best chance possible at succeeding. You’ll end up with a plan for a solid product with a proven demand.
Of course we won’t stop here. After validating the idea and helping to develop the final product, there’s a whole list of other steps that need to be done right in order for a business to succeed. One of the key steps: developing a solid business plan.
The problem with most business plans is that they’re too complex. They include too much irrelevant data and are often too optimistic. Put simply, they’re ineffective. We’ll help to take your complex ideas and turn them into a simple, easy-to-understand, and effective business plan.
We’ll then break the business plan down into easy-to-follow, actionable steps that will help you stay on top of everything, enabling you to clearly measure the progress your business is making.
The business plan will include your key financial stats, revenue projections, illustrative graphics, as well as a solid sales process, marketing strategy, team development strategy, a competitive advantage, and a whole host of other extremely important business aspects, all of which can cause a startup to fail, if not taken care of in advance.
We can help. Get in touch with us today, and let us work through your vision and provide expertise to help you build a winning strategy.