Do this first when starting a company

Finding out if anyone wants your product or services is the first thing you should do when starting a company.  Don’t make business cards or hats or t-shirts with your logo on it.  Don’t pay a designer to make a logo for you.

Find out if anyone will pay for your idea FIRST.

Watch or listen to this episode to find out how.

Timestamp

0:00 – Where to start building a company?
1:10 – My grandpa’s ball point pen.
1:30 – How to turn your idea into something.
1:50 – Write down all your ideas and categorize them. Then narrow it down.
2:20 – Why you should share your top ideas.
3:20 – Focus on one idea.
3:50 – List 2-4 assumptions to test.
4:20 – Test the assumptions with an MVP and make a sale.
5:00 – eBay was built in a weekend.
5:40 – The best idea will solve a problem.
6:25 – Revise and improve.

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  • Helene Smith

    Good advice – it’s amazing how many companies are established and even funded! before anyone confirms that there is actually a need for the product or service.

    • Thanks for watching Helene. Yes, you’re right. It may work well in a bubble, which many people say we’re in right now, but once the bubble bursts, the companies who aren’t solving a problem or fulfilling a need won’t last.