The backwards approach to starting a business
When entrepreneurs get hit by an idea they either rush towards building out their solution or rush towards finding investors. Both of these approaches take a lot of time and energy, and can be overwhelming. They are also backwards.
This approach is backwards because investors don't care about your solution but the viability of your business model. Customers don't care about your solution either but solving their problems. It's NOT enough just to build a great solution. You have to build a great business model.
Why Does This Happen?
I attribute the entrepreneur’s, often unbridled and singular, passion for the solution as the top contributor to this failure. This is when we think that all we need is a great solution, and everything else magically falls into place. This is the Innovator's Bias.
We place too much emphasis on the original idea but studies conducted on product success and failure tell a different story. It has been statistically shown that most initial ideas don't work as anticipated.
Rather, what separates successful entrepreneurs isn't starting with that perfect idea (or Plan A) but finding a plan that works before running out of resources. That last part is key. "Okay", I hear you saying, "how do I do that?"
What if I told you that: You don't need permission from investors (or anyone) to start your business. You don't even need to building out your product to validate your business model. And, you can do all this in 8 weeks or less.
That is the promise of BOOTSTART.