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#StartUpSeason - Business Plan Basics

Learn more about our work at https://alignyour.org

Michael Ambjorn

on 13 February 2018

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Transcript of #StartUpSeason - Business Plan Basics

'The goal of a startup is to figure out the right thing to build - the thing customers want and will pay for - as quickly as possible.'
'Lean thinking defines value as providing benefit to the customer; anything else is waste.'
'This is one of the most important lessons of the scientific method: if you cannot fail, you cannot learn.'
'The two most important assumptions entrepreneurs make are what I call the value hypothesis and the growth hypothesis.'
'What differentiates the success stories from the failures is that successful entrepreneurs had the foresight, the ability, and the tools to discover which parts of their plans were working brilliantly and which were misguided,
and adapt their strategies accordingly.'
A lean read of the Lean Startup:
the five key paragraphs

Read the rest: http://j.mp/LeanStartUpAmz
In conclusion:

Be clear about the who, what, when, where and why

Use the canvas and the paper folding exercise

Test it out with others
Does your grandmother (or nearest equivalent) understand it? Cut the jargon and temper the wild assumptions. You'll be surprised how useful this test is.
Ready for the next stage?

Get an advisory board - 3-4 highly diverse people who are not afraid to challenge you - and then
go make it happen.
Good luck - and thanks.

For more like this follow:
Work from an Impact Hub
- there are 80+ locations
around the world.
More useful books...
Now, is it niche enough?
Try the paper folding exercise: http://bit.ly/paperfoldingsegment
Full transcript