“Think big but in small steps.”
There’s no harm in thinking big. In the end, you can only achieve what you can imagine. But the bigger you think, the longer the road will be.
Therefore, it is necessary to break down this path into small steps that can be adapted repeatedly to keep up with the evolving competitive landscape. A 50-page business plan is not necessary but a plan is required that shows the process and how it can be flexibly adapted.
This is where the concepts from “Lean Startup” by Eric Ries, “Disciplined Entrepreneurship” by Bill Aulet, “Business Model Canvas” and the “Value Proposition Canvas” by Alexander Osterwalder come into play.
An MVP (minimum viable product) should be tested on the market with little effort and adapted to the market again and again. It’s common for start-ups to “fail fast, learn fast and innovate”.
Only when you have found the product-market-fit, it’s worthwhile to invest in marketing. Only then do most investors become interested. Until then, it’s all about bootstrapping.
We can support you in this process from the very beginning, specifically with: