Lean way to build your startup in 2020

In this class, you will…

  • Learn for whom this course is and what you will learn in the next weeks
  • Learn the importance of getting early feedback on your idea
  • Learn about mistakes you should not do when building your business

CLASS 1 | LEAN WAY TO BUILD YOUR STARTUP

Hi there future entrepreneur!

Excited to have you hear. In the upcoming weeks, I will be teaching you, class, by class how you can bring your startup idea on paper, how you can come up with great startup names and logos with no money, how you can check and claim your web domain the cheapest way possible, how you can make sure that your startup name is also available on all social media accounts so you are not ending up adding something like “username__2”, how you can build a stunning landing page which will catch the customers attention without coding a single line and how you can grow your email list of potential customers without having built your product yet.

Super exciting, right? It may sound a bit overwhelming and it will be for sure some information for you to digest but I am 100% sure you will master everything. After you went through all the classes, you will have a huge set of skills to go from a business idea in your head to signed-up potential customers in a matter of hours.

Furthermore, you would be in very good shape to build websites (without coding a single line! ) for others and earn a good side hustle from it.

For whom is this class?

  • For entrepreneurs who want to build their product and require a landing page which fits their brand
  • For blogger and influencer who wants to build a closer relationship with their follower via a personal blog site
  • For professionals or creatives who want to showcase their portfolio and/or resume
  • For everyone who wants to learn how to build professional websites in just a couple of hours

This is the very first class but also one of the most important ones. Have you always wanted to start your own business? Do you have almost on a daily basis great business ideas that you want to become real? With the same breath are you also thinking yourself where you should start? Should you get a freelance developer or should you learn to code by yourself? Should you invest 5000 USD to build your first prototype or should you check on Alibaba if a similar product could be imported? Should you search for external funding early on or should you bootstrap? How do you create awareness for your product or service?

These are probably all questions which you asked yourself. But there is one specific question which will be the most important one to ask and answer yourself very early in the process. It’s a question that I learned to ask myself early on and which many successful founders I talked to also asked and ideally answered themselves. It’s a simple question but a lot of the time it’s difficult to get an answer to early on or even at all.

Is there a demand for your product or service? Or differently stated, is your product or service adding value to someone?

This is literally the most important question to yourself for any product you intent to build or any service you plan to offer. Before I am going to explain to you the leanest way to get an answer to this question, I am going to explain to you what you should not do!

What not to do when building your business, startup or blog

Not pitching to prospective customers

Many entrepreneurs who believe they have the next unicorn idea tend to not disclose what their brilliant concept is. They keep it all for themselves and work on it day in day out. They do not reach out to their potential clients early in on the process but rather work isolated on the product until it is (for their perception) perfect. Once they finally release their product after having invested thousands of dollars they come to realize that there is no demand for it. The clients, they only approached after release do not see any value in the offering and not a single sale occurs. Finally, the young entrepreneur will face reality and give up.

In reality, your business idea might already exist in one or the other form and your goal should be rather how to make your business offering 10x better than the currently existing products or services. How can you do that? Even before you are actually building something, approach potential clients, and ask them what they think about your idea. What do they like about it? What other products or services do they currently use? What do they miss about the current offerings? How is your product or service different? Would they become a customer if the product or service would exist?

With all these questions asked to as many potential customers as possible, you already get a very good understanding of who your customer will be. What age group they fall in. What interests and hobbies they have. From which sociodemographic group they are etc.

Isn’t that amazing?

You already validated your business idea with 0 USD spent and by just using your mouth and a couple of questions. In case you faced some skepticism on your idea, that’s totally fine. Insist on getting honest feedback, only that way you can validate your idea.

This is the stage where you can take the right measures to shape the idea to a product or service which people want and NOT a product or service which YOU want. Be open and iterate your idea until you feel confident that you identified a niche with demand.

Great stuff, you finished Class 1, and congratulations on starting your journey! Every class will end with an exercise session. It is highly recommended to move to the next class only once the exercise is completed.

Exercise of the week

Approach 20 different potential users/customers for your service or product and get their opinion on your idea. Write down all their feedback in your notebook. Note good things about your idea and the critics. Important is, that you do not ask only your friends or family but people you do not know personally. Always stress on the fact that you would like to receive honest feedback as this will only help you to a valuable product or service.

Write in the comments, how it went. Did you expect the feedback you received? Was that helpful to further improve the idea you had in mind? Share what you learned

What’s up next week?

The next class will further explore your business idea. We will investigate how you can start with your branding early on in the process. We will also look into how to name your future startup and also check if the domain is available. I am excited and talk to you next week! Make sure to sign up to my newsletter on www.rizvihaider.com and stay up to date about tricks and tips, new released classed and more interesting and fun stuff!

Entrepreneur and crypto enthusiast