Looking for early adopters? Don’t hold your breath!

“The secret of getting ahead is getting started. ”

– Agatha Christie

Willing to put up with a buggy product? Join the club!

As a customer…

Have you ever got scre*ed by a company?

In a big way?

If so, don’t despair; you’re not alone!

Even though in this day and age people, in general, have become much more sophisticated buyers than they used to be, from time to time, they still end up not getting their money’s worth.

And needless to say, most disgruntled customers don’t keep their feelings secret…

But what if I told you that there is a group of people that are not only willing to put up with a buggy, half-baked product but also are happy pay for it?

I know; Shocker!

So, who are these mysterious individuals?

Behold: The Early Adopters…

According to Steve Blank, These are the people that… see the finished product 18 months from now even if you didn’t show it to them. You know you’re in front of an early adopter when they stop you in the middle of your presentation and run in the whiteboard and draw your diagram even better than you are.”

Yep, this rare breed of people buy into your vision early on, even if the product is still incomplete because:

a) They love the idea of being in an elite group that tries new things before anyone else has

b) They have the ability to see the market potential (and capitalise on it) way earlier than the general public – hence for them it’s an area of opportunity to stay ahead of the curve

So, why are they considered by me many “startup experts” as crucial for getting a new product off the ground?

Three reasons:

Reason #1: Are willing to take a punt on unproven products

Whether new entrepreneurs like to hear it or not, unless a new product is battle-tested in the market (with real, oxygen-breathing… people) you don’t know with certainty whether that thing works as expected or not.

But the thing is, for most people, unless there is a proof (through consumer reviews, testimonials, word of mouth, etc.) that a product does the job, they will simply NOT be willing to park their hard-earned cash.

However, that results in a chicken and egg situation because unless a couple of ‘brave souls’ give the product a chance, a business will be unable to get that much needed market validation.

And according to many that’s where early adopters come in the equation!

Yeah, as mentioned earlier, the conventional wisdom suggests that because this type of customers (due to the afore listed reasons) have a high-propensity to take risks, they can act as a springboard for getting the ball rolling.

Reason #2: Help debug and re-design the product

Other than being the business guinea pig, they serve another valuable purpose…

…which is to help the business debug and re-design their product!

“Redesign.” You did read that correctly!

In the opinion of many experts, early adopters not only will happily pay for an untested product, but also go above and beyond the customer role (which is to buy and consume the end-product) by providing candid and valuable feedback on how to refine it and make it workable.

But wait, there’s more…

Reason #3: Do the marketing for you

Yep, don’t have a marketing budget?

No worries, the early adopters are here to save the situation!

How?

By transforming to early evangelists and sharing the love with everyone they know.

According to our friend Spike Morelli “the most important thing of all [about early adopters, is that], if you make them happy, some of them will become your early evangelist, the ones that will talk to every single friend, Facebook friend, and any living soul really, about your product.”

Sounds awesome, right?

So, what do you think; time to start the hunt for finding them?

You guessed it – HELL NO!

That’s correct, with the startup BS talk out of the way let’s get real.

Early Adopters = Hope Marketing

There, I said it.

Why?

For the simple reason that unless you have a disruptive, radically new product with the potential to knock the competition out of the park (yeah, that good) expecting some kind strangers to selflessly take a punt, debug, redesign, and market your thing is, simply put, DELUSIONAL.

Everett Rogers himself (the person who originated the diffusion of innovations theory and introduced the term early adopter) said: “these visionaries are not looking for an improvement they are looking for a fundamental breakthrough…visionaries drive the high-tech industry because they see the potential for an “order-of-magnitude” return on investment and willingly take high risks to pursue that goal.”

Yes, a fundamental breakthrough! And unless I am missing something that happens once in a blue moon.

But most importantly, for most new entrepreneurs, that is not even relevant since the desire to play ‘the visionary’ game is NOT even on the agenda because they get that this roadmap 9.9 out of 10 times will make them no money and act as a stumbling block for getting the much awaited economical and personal freedom they crave for.

So, don’t call me a hater, but I am afraid the early adopter concept, for the majority of new startuppers, not only does not help, but in fact severely undermines their efforts.

Conclusion

And one last thing…

In case you are wondering, if for most entrepreneurs early adopters cannot be an option, who should take a punt on us and play the early user role (for solving the chicken and egg conundrum described earlier) the answer is very simple:

No one!

What?

Yes, my friends, nobody should take a punt on us – as entrepreneurs it’s our job to de-risk the proposition before going public and that can only happen by ditching hope marketing and having a robust alpha and beta-testing in place instead.

***

Ok guys, that’s all from me for today.

If you enjoyed today’s post, check out my kindle book, The Aspiring Entrepreneur Entry Strategy: A practical step-by-step guide for finding a validated, winning business idea that stays true to who you are, that is currently available at Amazon.

I hope to see you soon.

Best,

Andreas

“The big secret in life is there is no secret. Whatever your goal. You can get there if you’re willing to work” – O. Winfrey

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The lean start-up model: A better way to start a business or a methodology flawed from start to finish?

“Everybody has a plan until they get punched in the mouth.”

– Mike Tyson

Science Vs. Intuition

As of 2017, the lean startup methodology is one of the most popular methods of building a new business.

I know, it’s been 6 years since Eric Ries released his best-selling book “The Lean Startup” but it seems that the lean movement he helped popularize is not going away anytime soon.

And for many, that’s a good thing!

After all, as the lean startup supporters would say, it’s a scientific(ish) process that has been proven to work…

… not necessarily turning a (business) idea into a success but at least helping people find out – fast – whether it has market acceptance or not.

So what’s so special about it?

According to Steve Blank, also one of the lean startup pioneers, it’s special because “it favors experimentation over elaborate planning, customer feedback over intuition, and iterative design over traditional “big design up front” development.”

Which as you might agree, at least in theory, appears to be a more appropriate formula for startups.

But at this point you might wonder, if it’s an undisputed theory that does the job (for everyone) why even bringing this topic in the first place?

Well, because it simply is not undisputed!

In fact, the last couple of years more and more people came out of the woods and said: That thing doesn’t work; time to throw it under the bus!

And on today’s post will do our usual digging and find out how much of that is true and how much is BS talk!

Let’s get started…

The Case for Lean Startups

Before going into the lean critics, I think it is worth taking a moment and to see into a bit more detail on why the lean methodology got so much traction the last few years.

Early decisions are validated by data and not market guesstimates

A couple years ago the conventional practice of starting a new business was to a) create a static business plan (which as you know described not only the area of opportunity, but also how you’ll make things happen), b) build the product on stealth mode and c) almost religiously follow the prescribed action plan.

Nonetheless, at least for startups, that approach it would seem to be gone (as in forever).

Why?

Simply because many new founders got to agree with Steve Blank that a startup is not a smaller version of a large company [but] a temporary organization designed to search for a repeatable and scalable business model”…

… hence embracing the big corporates playbook not only is unhelpful but in fact can sabotage, big time, the chances of ever making it.

So what was the lean alternative?

Common, you already know the answer!

Rather than assuming you have the magical ability to foresee the future, you simply accept that you have a series of untested hypotheses and your job is to go out and test them the lean way.

Which, in a nutshell, can be broken down into 2 phases:

Problem space: Go out of the building – before building anything – and learn as much as possible about your target audience needs, goals and most importantly pain points (yes by talking in person with real human beings)

Solution space: Put together a minimum viable product and rapidly test your key business hypotheses before going to actually build the final product (by observing actual behaviours from end-users using your MVP)

And with the lean method briefly explained let’s jump on the other camp and see what the lean critics have to say!

The Dangerous Reality of Lean Thinking

Yes my friends, it’s not just Peter Thiel that dismisses the lean methodology, but in fact, there’s a whole community of entrepreneurs that fervently stand against the “go lean” mantra.

Because I know you’ll ask, here are the three fundamental criticisms of the lean approach.

Criticism #1: Code for unplanned

This one comes from Peter Thiel…

According to Mr. Thiel, would-be lean entrepreneurs have been trained to believe that: “nothing can be known in advance…[so] you should not know what your business will do; planning is arrogant and inflexible. Instead, you should try things out, iterate, and treat entrepreneurship as agnostic experimentation.

The consequence of that behaviour?

Encouraging new entrepreneurs to jump in a market recklessly – quite often without even a basic understanding of a) the market they are in, b) the competitive landscape and c) how they could create something with an edge.

Why?

Because of the misconception that since you don’t learn until you launch, the only sane thing to do is to launch something out there – super fast – and then based on customers’ feedback you will somehow manage to iterate until to get it right.

The reality?

That rarely happens!

Criticism #2: It gives entrepreneurs an excuse to create sh*tty products

Why do I say that?

Because of the MVP disease…

… which is the tendency of ‘lean entrepreneurs’ to think that they have to get something out the door as fast as they can, even if it’s half-finished, present it to early evangelists/adopters and let them “play with it” and then together iterate it until it is fully functional.

Why would they help you do that?

Well, according to the noted Steve Blank, a pioneer of this way of thinking, it’s because “they’re visionary customers. They fall in love with the idea of your product… [and] will stick with you through good and bad because they share your vision.”

The truth?

According to the lean critiques, the early evangelists simply don’t exist!

Yep, as they say, just hoping that some kind strangers will help you to iterate a buggy half-baked product until it is fully functional not only is delusional but will probably be the #1 contributor to your inevitable startup car-crush.

Criticism #3: It makes entrepreneurs quit, before even giving a good fight

Ben Silbermann, Pinterest’s founder, in an older interview said that he recently read Eric Ries’s, The Lean Startup, and was grateful he didn’t read it at the time because it might have convinced him to quit at that point.

Why?

Because the lean startup model gives people an easy way out.

According to Sramana Mitra: “the weakest point of the methodology, in my opinion, is the excessive emphasis on quick validation and pivot… But often, especially if you have strong vision and internal conviction about market, a product, a direction in which you want to take your industry, you won’t be able to score a quick validation. You would need to give yourself and the market some runway. The Lean Startup principle that Eric Ries espouses ignores this whole line of thought.”

Don’t blame the tool, blame the user

To answer today’s question I am of the belief that even though I acknowledge that ‘going lean’ doesn’t come without some glitches I do think, on the whole, it does more good than harm.

And I say this because hype-aside (and truth to be told when it comes to lean there is a tremendous amount of BS talk from the so-called “lean practitioners”) many of the weaknesses associated with going lean don’t necessarily derive from the system itself but rather from the fuc*ed up interpretation of (some) end users.

Yep, as they say don’t blame the tool, blame the user

Moral of the story?

Yes giving ourselves and the market some runway is often a sensible thing to do but we should always keep in mind that there is a fine line between having strong conviction and BSing ourselves.

***

Ok guys, that’s all from me for today.

If you enjoyed today’s post, check out my brand new book, The Aspiring Entrepreneur Entry Strategy: A practical step-by-step guide for finding a validated, winning business idea that stays true to who you are, that is currently available at Amazon.

I hope to see you soon.

Best,

Andreas

“Customers aren’t good at having theoretical discussions about value propositions and customer benefits. What they are good at is reacting to the solution space.”

– Hannah Alvarez

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Hyperlocal Positioning: A time-tested business strategy or simply not relevant anymore?

‘“Face reality as it is, not as it was or as you wish it to be.”

– Jack Welch

The Global Village…

Scroll down your Facebook feed and chances are you will see at least one post talking about the world becoming a global village.

And the idea here is that since nowadays people are closely connected through the use of social media, other internet-related communication means, and of course trade and travel, the world is gradually transforming into a single community.

But whether you agree with that notion or not, you’ll probably wonder; how is that connected with today’s topic?

The answer? 

Simple. Even though, the conventional wisdom suggests that today’s entrepreneurs should create ‘born global type of companies’ in reality many new founders put that advice to the test rubbish bin…

… and do exactly the opposite – go local!

The ‘Hyperlocal Option’

Before going any further, let’s make sure we’re all on the same page.

Hyperlocal positioning describes the business strategy of starting a business with the primary focus to serve the needs of a well-defined geographical area, “generally on the scale of a street, neighborhood, zip code, or city.”

I know, that’s not really a new concept. In fact, it is probably one of the oldest methods of starting a business.

If you think about it, almost all small retailers (i.e. grocery stores, restaurants, clothing boutiques, pubs, jewelry stores, etc.) operate under this model.

The Historical Case for Going Hyper-Local

Why does this model exist?

In a nutshell, it’s because it serves the time-sensitive and even province-specific needs of the local community. Plus, the convenience factor comes in quite handy!

And also let’s not forget that:

a) Customers tend to trust local shops more than the non-local ones

b) The lifetime-value of each customer is much higher (because people, in general, stick in an area for quite some years and historically the competition in local markets has been lower)

All sounds great so far, right?

I know… so what has changed in the last 20 years or so?

No guesses here – the internet arrived!

As they say, it came into our lives and changed literally everything – how we buy, work, communicate, live, and …

… last but not the least, how we do business!

Yep, today internet-based businesses are not the exception but rather the rule.

Hence, the question automatically becomes: does hyperlocal positioning work – or is it even relevant – for today’s online ventures; or maybe is time to admit it’s dead (as in forever).

Global Or Die

A bit harsh; or perhaps the critics got this right?

Well, before coming up with an answer let’s get to the bottom of this and see the two key arguments behind this claim.

Argument #1: This (business) model is dying everywhere

The claim here is that today even offline local businesses, which structurally are perfect suitors for this strategy, have a constant struggle to keep up with the digital era and as a result are closing their shops one after the other.

And, according to the “global or die” advocates, that’s not the case only because the offline market pie is shrinking dramatically but also due to:

– The arrival of companies of the likes of Amazon Fresh, UberEATS, Deliveroo, and many others that combine the best of both worlds (e-commerce, retail)

– The global franchises that are spreading faster than ever and making the local environment much more competitive

Argument #2: The hyper-local model hinders growth

In case you wonder why here is an explanation from Sean Barkulis, a supporter of this line of thinking:

What’s more difficult than building one successful startup? Try building 50 successful startups. This is essentially what you are doing when you try to launch city-by-city. Just because your app had success in San Francisco within your own network doesn’t necessarily mean it will have success in New York. If your app can’t launch nationwide from day one, you probably won’t have sufficient capital to build it out nationally, city-by-city.”

– Sean Barkulis

Basically Sean’s point is that by hyper-focusing on a local market, you’ll have to tailor your proposition to that local community and therefore, force yourself to try to re-invent the wheel time and time again should you desire to expand your business into a new location.

My take on hyperlocal positioning?

Hyperlocal Positioning is Still Here for a Reason

There, I said it!

But let me explain…

The idea that new entrepreneurs have only one option: either go global or die is superficial and doesn’t stand up to scrutiny.

The fact of the matter is that local businesses’ shrinking market pie is not because they’re inherently vulnerable to international competition but due to their inability or unwillingness to adapt to a) changes in consumer behavior and b) modern business practices of running a business.

As for the applicability of hyperlocal positioning for online ventures, I tend to have mixed feelings.

And I say this because on the one hand segmenting people based on where they live and in general demographics is so old-schooled and on the whole a bad practice but on the flip side creating a product that is also tailored to the local realities/particularities can always be an added benefit.

Plus, I do agree that assuming your target market is big enough in that region to sustain a real business, going hyper-local can help on the branding and marketing side of things (talking from experience, people do trust local companies more).

Putting It All Together

With all that said, let’s put this post to bed with today’s key takeaways…

– The Internet might have changed everything but there is still room for local retailers

– Segmenting people based on just demographics is a bad practice on the whole

– Go global or die is a stupid dilemma coming from people that either don’t know what they are talking about or have a vested interest promoting this flawed notion

***

Ok guys, that’s all from me for today.

If you enjoyed today’s post, check out my kindle book, The Aspiring Entrepreneur Entry Strategy: A practical step-by-step guide for finding a validated, winning business idea that stays true to who you are, that is currently available at Amazon.

I hope to see you soon.

Best,

Andreas

“When you find yourself in a hole, stop digging.”

– Will Rogers

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Lifestyle Business: Fundamentally Flawed or the Future of Entrepreneurship?

“The purpose of your life is not to serve your business, but that the primary purpose of your business is to serve your life.”

– Michael E. Gerber

High-growth vs. Lifestyle Businesses

Who doesn’t want to have a cash-producing business while doing what they love?

I know, hardly anyone can turn down such an offer…

But, daydreaming aside, is that even possible?

Well, at least for a category of fellow entrepreneurs that seems to be the norm.

In case you wonder, yes I am talking about the so-called lifestyle entrepreneurs.

Unlike the aspiring high-growth business owners (you know, the ones that want to disrupt an industry and capture market share on the fast,Uber style), this special breed of entrepreneurs see things differently.

In particular, they want to have a business carefully crafted: a) around something they enjoying doing (i.e. passion, hobby, interest), b) to provide something people want or need, c) in a way where they don’t need to sacrifice having a healthy and pleasant work-life balance.

And on today’s post will explore this concept further for finding out how much is real and how much is outright fantasy!

Without any further ado let’s dive straight in…

The Lifestyle Business Benefits

So, what are the advantages of having a lifestyle business?

Well, according to our lifestyle entrepreneur friends, there are a number of them.

Advantage #1: You’re the only cook in the kitchen

Yep, the owner is responsible to no one but himself, which means no external stakeholders involved (i.e. financiers, investors, board, etc.) putting pressure on you and scre*ing around with YOUR business. The bottom line? It’s your business, and you call all the shots…

Advantage #2: You don’t play the “all or nothing” game

What does that suppose to mean? Put simply, unlike ventures that partner with angel or institutional investors, their business model is not built on the assumption that to make it, you’ll absolutely need to have a massive amount of growth and sell the company in a just couple of years for millions.

Advantage #3: It doesn’t require funding

This needs no explanation. Lifestyle entrepreneurs almost always start off small and need just a couple of $100(0) for getting their micro-business off the ground.

Advantage #4: You won’t wait for ages to turn a profit

That’s right. Unlike venture-backed businesses that require founders a) to craft a complicated business structure whichsucks cash like crazy, b) pay themselves next to nothing and, c) reinvest every penny back in the business (in the hope that one day they will sell the company for big bucks and become filthy rich), lifestyle businesses operate under a simple rule: Live in the present, keep things simple, and eat what you kill.

Advantage #5: The chances of making it are much higher

Last but not least is the risk factor. As it’s generally accepted, comparing to aspiring high-growth ventures, micro-businesses naturally have much lower failure rates. And that’s only natural. Due to their minimalistic business model, in general, they can turn a healthy profit with just a couple of sales per day.

Three Big Fat Myths about Lifestyle Businesses

Time for busting some myths?

Good!

Since there is a lot of sh*t written about this model from serial BSers, I think it’s worth taking some time to address them.

Myth #1: Lifestyle companies operate under the ‘set it and forget it’ model

So, according to the scampreneurs narrative, lifestyle entrepreneurs can have their cake and eat it too!

How?

Simple – by creating a ‘set it and forget it’ type of business that produces passive cash and exists merely to fund their ‘Bahamas lifestyle.’

The truth?

As our friend Joe Magnotti rightly puts it here, “coconut-sipping, beach-lounging, laptop-carrying backpackers who are lazy and on a perpetual vacation” have nothing to do with true lifestyle entrepreneurs.

That’s right – this is just a lame fairy tale idea scampreneurs like to spread left and right to catch the attention of their (naïve) target group, which is none other than a bunch of losers with IQ close to zero!

Myth #2: Lifestyle micro-businesses are about “being an artist”

Their story in a nutshell?

Do what you love and the money will follow!

The end-result?

The same ending as most of our artists friends. Yep, being endlessly BROKE.

Why?

Because they try to force “their gift” into the market, forgetting that customers don’t give a sh*t about their gift. Instead, every single one of them just cares about one thing: WHAT’S IN IT FOR ME!

Myth #3: Lifestyle ventures can have an immediate ‘payout’

The story usually goes something like this…

a) Create an ebook in 4 weeks or less

b) Publish it on Amazon

c) Advertise the sh*t out of it

d) Boom! Make money while you sleep

Sounds like a plan, right?

NO!

Unless somebody is brain damaged, expecting to ever make money out of this so-called “plan” is simply delusional.

The truth about lifestyle businesses?

There is no such thing as a passive part-time lifestyle business

First things first…

The idea of building a business so that you can do something else is not only dangerous but probably the #1 reason why people fail.

But that has nothing to do with real lifestyle businesses – it’s just a distorted version of reality.

The cold hard truth?

A lifestyle business is not a type of business you can run from a beach while sipping margaritas. Instead, it’s a real FULL-TIME business that is created with the intention of helping you make a comfortable living (by creating something you care about and people value enough to pay for) without scre*ing your personal life.

That’s it. No Mai Tais, no coconut trees, no autopilots!

The moral of the story?

There is no such thing as a free lunch, and if you are serious about building a lifestyle business with the potential to bring enough cash in to make it worthwhile (while enjoying the added benefits that arise from this business model) not only do you have to put in the time, but you also have to treat it like a real business.

With all that said, let’s close this post with today’s key takeaways…

Key Takeaways

– Like it or hate it; when you’re the only cook in the kitchen, you call all the shots

– There is no such thing as a passive, part-time lifestyle business

– Lifestyle Business 101: Live in the present, keep things simple, and eat what you kill

***

Ok guys, that’s all from me for today.

If you enjoyed today’s post, check out my kindle book, The Aspiring Entrepreneur Entry Strategy: A practical step-by-step guide for finding a validated, winning business idea that stays true to who you are, that is currently available at Amazon.

I hope to see you soon.

Best,

Andreas

“Everyone has a plan ’till they get punched in the mouth.”

– Mike Tyson

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(Startup) Scalability: A top priority or maybe the wrong thing at the wrong time?

“Focus is good, provided you’re focused on the right thing.”

– Neil Patel

The holy grail… of business!

You hear the term “scalability” being thrown around QUITE A LOT these days.

And this should come as no surprise. After all, it seems that “everybody” today wants to build a scalable startup.

In case you are wondering what it is really about, according to Martin Zwilling, “it simply means that your business has the potential to multiply revenue with minimal incremental cost.”

But is that even possible?

Well, if you think that there are many companies already doing it (Google, Microsoft, Spotify, Facebook, YouTube just to name a few from the ‘big boys’), at least in theory, the answer is yes.

So, what is ‘the recipe’?

Even though the answer varies depending on who you ask, most experts agree that putting together a system that enables you to produce (and distribute) almost unlimited amount of products with a click of a button is a key ingredient!

Sounds too good to be true? Well, it probably is!

But before getting into that, let’s first go and see why the scalability advocates argue that it needs to be a top priority from the get-go.

When Should Startups Prepare for Scalability? NOW.

Continuing from where we left this off, the reason why ‘scalability first’ is a common refrain is because, in its advocates’ opinion, scalability must get build into the company’s DNA and that can only happen during the inception phase.

As they add, if you closely examine companies that have ‘been there, done that,’ you’ll see that pretty much all of them “share a number of formulaic elements in their respective business models that allow them to grow the way that they have (and continue to do).”

Take for example the afore listed mega-companies. Other than a great product, they also share some common characteristics:

a) Cloneable product

What does that mean? Put simply, they developed a product that can effortlessly be duplicated with a click of a button (e.g. drugs). 

b) Fully-automated experience

As the name suggests, the end-user can buy and “consume” the product in an automated fashion (e.g. digital music).

c) Serving new customers costs next to nothing

The secret sauce here is that they incur most of the costs at the product development phase, but once the product is up and running, it can serve thousands upon thousands people for almost no extra variable production cost (e.g. software).

So, time to make scalability our first priority?

Nope!

Startups, stop worrying about scaling

Why do I say that?

No guesses here, unless you have a proven business model that works (one that produces something people want at a price they are demonstrably willing to pay), anything else is just a distraction.

And if you ask me, especially when it comes to digital products, this conversation is partly irrelevant, because most have an innate scalability anyways.

But getting back to my original point, scaling (or building to scale) something that doesn’t work makes NO sense.

Just think for a moment… how many products come out on the market and are either fundamentally flawed (because there is no market) or simply don’t work as expected?

I know, A LOT. And what happens after that?

That’s right. Either the founders throw in the towel, try to fix it, move on with something else, or pivot to a new business model.

In any of those scenarios, having a scalable model makes ZERO difference. Yes zero.

That’s part of the reason why Paul Graham famously advised new entrepreneurs at the beginning to “do things that don’t scale.”

The first thing you build is never quite right

Let’s burn this into our brain…

Making a better mousetrap is not an atomic operation. Even if you start the way most successful startups have, by building something you yourself need, the first thing you build is never quite right.” – Paul Graham

Which, as we said before, makes spending time building scale a form of waste!

But this line of thinking doesn’t stop at the product – it also affects your business model on the whole.

Which in practical terms means before we think scale, we have to nail these 5 things first:

– Market problem

– Target group

– Product

– Marketing

– Selling

Done with this?

Good, now time to scale things up!

Or maybe not?

You don’t have to build a scalable business

There, I said it!

Building a highly-scalable business that will conquer the world is NOT the only path.

Yes my friends – there are more than plenty different types of businesses and you should not get caught up in this automation frenzy.

I’d like to close today’s post with our friend Jon Westenberg’ advice:

“There are only 3 things to consider before starting a business. Will I make money?  Will I be proud of what I’ve built? Will I enjoy the work? They sum up the only three reasons to get into a business in the first place. You want to turn a profit, you want to build an asset you’re proud of, and you want to enjoy yourself.”

Today’s Key Takeaways

When it comes to startups, sustainability always comes first.

– The first thing you build is never quite right.

– You don’t have to build a scalable business.

***

Ok guys, that’s all from me for today.

If you enjoyed today’s post, check out my kindle book, The Aspiring Entrepreneur Entry Strategy: A practical step-by-step guide for finding a validated, winning business idea that stays true to who you are, that is currently available at Amazon.

I hope to see you soon.

Best,

Andreas

“The right business to build isn’t the one everyone else wants”

– Jon Westenberg’

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