START get out of the building
The target of this first phase is to iterate from a rough idea towards a first, testable business model. Central elements are getting to know your customers and to verifying whether you're dealing with a big enough problem to solve.
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define your ambition level and purpose
At the very beginning of your entrepreneurial journey, there is the vision. The vision defines where you're heading to and aligns your teams thoughts and ambitions - it's your guiding star.
form a high performing team, built on mutual trust
The first and probably most critical critical question for a founder is how to stuff his team - which skills, which characteristics, which pesonalities, etc. Take your time for this decision!
identify and understand your early customers
At the very beginning, your product won't get mass-market acceptance right away. This is why you have to find your early customers, which belive in your solution and have special needs.
understand your market environment
Take your time to scan your market and environment, look at current trends and other influence factors. Get a sense of what's out there and what's about to come.
know your competitors
Don't get obsessed by what your competitors are doing but quickly scan how their solutions look like and what their rough figures are.
design a "ready-to-test" business model
Look at your idea from different angles and create a hypothetical model of how everything plays together. Test, prove or refine the different assumptions along your startup journey.
make your hypothesis tangible
Choose from different prototyping techniques and tools to make your product vision tagible. Test your tangible prototype in front of customers to verify your hypothesis.
present your business model to stakeholders
When you're starting your own company, soon many stakeholders will be involved and you will constantly tell your story. Make yourselve a favor and prepare your pitch!