“Save your excitement until you land people you don’t know as customers.”.“Every single one of the top 25 brands in the world are 12 characters or less.”.How can you make your offer as real as possible for the end customer?Ī Framework for Choosing an Acceptable Business Name.What can you do yourself instead of delegating?.What can you do manually (hint: probably everything)?.How close will your MVP be to the final vision of your product?.How will you get them to pay you after seven days?.How can you perform a service or offer a product to real customers?.Questions that will help you with your MVP: “The key is to forget about automation and figure out what you can do manually.”.“A common MVP mistake is over-emphasizing the ‘minimum’ and under-emphasizing the ‘viable.’”.“Everyone might be saying that your idea is great, but look at whether or not they are currently paying for a solution to the same problem.”.“Playing the visionary is a privilege reserved for second- and third-time entrepreneurs.“What will make you, and your company, unique?”.“If you work on this idea for five years, what will you have in the end?”.But if you turn down projects and focus on providing recurring value, you build a valuable asset.” If you focus on short-term projects you’ll make more money initially. “A list of customers that pay you every month is an asset.Assets are built over time by ignoring short-term distractions in favor of a bigger, long-term vision.” “Focusing on short-term launches or projects won’t build assets.At that point it becomes a real business.” “You need to be able to see a point where you can hire in staff or systems to replace you, and still continue to generate a profit.“Your idea is not a solid startup idea if you don’t have the capacity to make use of a profitable, growing business model.”.If you don’t have that ambition, what you are creating is not a startup.” “Startup founders should have the ambition to grow their business into a larger company.“It makes no sense to start a business that is going to have you doing work you don’t enjoy.”.Tap into pain or pleasure differentiators.Operates profitably without the founder.The 9 Elements of a Bootstrapped Business Idea “The world always seems brighter when you’ve just made something that wasn’t there before.” Neil Gaiman.“If you want to be an entrepreneur, you have to launch.”.“To really test whether you can build a business, you have to start building it.”.You have to relentlessly pursue your best method of getting customers and not the stuff you naturally gravitate to.” “Once you launch, you need to get more people paying you.“Hustle for an early stage startup is generally about spending your time on the things that are most likely to bring you, customers.”.
“Things may come to those who wait … but only the things left by those who hustle.” Anonymous.“Anyone can create a job for themselves.“Eric Ries defines a startup as ‘a human institution designed to deliver a new product or service under conditions of extreme uncertainty.’”.“Solve problems where people are already paying for solutions.”.“If you want to be an entrepreneur, you need to be passionate about growing a business.”.“There’s a huge forgotten void between ‘idea’ and ‘successful business’ that validation doesn’t account for.”.“There is a very big difference between someone entering their email and someone paying you each month for a product.”.You have to relentlessly pursue your best method of getting customers and not the stuff you naturally gravitate to.” You have to build a business idea in order to test it.If you want to be an entrepreneur, you have to ’ship’ your product.You have to spend time on the things that are most likely to bring you customers.
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