“Success is moving from failure to failure without losing enthusiasm.”
We are not a company builder, that is strictly the founders’ domain. But we can support the founders in building a solid company – not only for 3-6 months, but as long as the founders require.
But why do I start a company? What is my motivation, my “Reason Why”? Starting a business should never be an end in itself, it’s just a way to do something.
You do not need a 50 page business plan. What you need is a plan showing your next steps that you can adapt easily and quickly.
This is where newer concepts come in place like Lean Startup, Minimum Viable Product and Business Model Canvas. Ideas should be tested quickly and at low cost. “Fail fast, learn fast and innovate”, is the dogma for new projects.
At Business Buddies, we support you through these methods. We show you the respective tools, define the process, act as a sparring partner and contribute our own experiences and lessons learnt from other companies.
Only when you have identified your market and customers, should you start spending significantly for product development and marketing. Once you have found your product/market-fit, investors get interested. Until then better bootstrap.
“Thing big, but in small steps.”
There’s nothing wrong with thinking big. Ultimately, you can only achieve what you can imagine. But the bigger you think, the further the path will be.
Therefore it is necessary to divide this path into small steps. However, this has to be adapted again and again, because the market is not a mountain that stands firm, but is constantly changing. Specifically, the following questions are at stake:
- Where do I want to be in five years’ time? What is my vision?
- What is necessary to achieve this vision?
- In which market should I start?
- What exactly is my value proposition?
- Should I focus on rapid market penetration or sales and profit?
- When should I internationalize?