"As a startup founder you need to understand that, you have a portfolio of activities to manage with high rate of uncertainty." - Isaac A. Koomson
1. Feasibility study; create value preposition, analyze the potential market and define your business model.
2. Launch the prototype of the idea; test or experiment the hypothesis of your startup idea. Also never comprise on quality when designing the product prototype for launching.
3. Observe the reactions by key customer groups (what are the customer behaviors in respond to using the product)
4. Adopt validation learning to account for the features of the product that was working and not working, why it was not working, what other features needs to be taking from the product, what new features should be added to the product. Does the product need redesign to suit the customer’s reactions?
COMMON MISTAKES BY START-UPS
1. Creating the product first, thinking about marketing later
2. Offering “nice to have,” but not essential value
3. Lack of market verification; saying is not the same as paying!
4. Anything to please investors instead of customers
5. Thinking that “we have no competitors”
6. We have brilliant idea and it will go viral by itself
7. A good growth hacker is all we need!
8. Marketing needs a huge budget, therefore we’ll take care of it after fundraising
9. We’ll enter the market with “big boom” launch
10. Burning money instead of investing
As a startup founder you need to understand that, you have a portfolio of activities to manage with high rate of uncertainty.
Ø Acquiring new customers
Ø Serving existing ones
Ø Improving product quality
Ø Marketing and operations.
I hope this brief information has been useful to you. Let me hear from you if you have question or concerns for further discussion. Call / WhatsApp the number below and let's connect.
Kind regards
ISAAC AGYA KOOMSON
+233 24 133 2246
START-UP CONSULTANT | CEO | SPEAKER
KIA-STARTUP CONSULT.