Yep! Entrepreneur Bootcamp | Getting your business off the ground
So you can position yourself well, but most importantly, to also understand your financial indicators, so that you can charge the correct rate. And you can ensure that you run a profitable entity, identifying your customers, you are building a pipeline, a pipeline of potential projects, you build your pipeline, because you understand your market, you consistently do research, research to improve your service and research to understand where the market is going, you then have to list your prospective projects in terms of probability of success, probability of you, clinching that contract, you'll have those that are high probability, medium probability and low probability. Now I'll tell you how to measure the levels of confidence internally,
your customer doesn't make it. So to get started, today, I'm going to start figuring out how to get this job done. If it's something that they don't care about enough, it's not really a good business idea to
must have line of sight in terms of the commercial processes, so that you can comply, it does not help to have a solution that is demanded, but you fail to comply with the commercial processes, because you will be kicked out of the bidding process, whether it's private sector or public sector,
you don't want to spend a lot of money on voting, want to see and taste as quickly as possible, as cheaply as possible as you get the facts. And as you become more comfortable with your assumptions and improve it, you start moving higher fidelity products, giving us adding exceptional values with a customer's eyes light up when you mentioned that we can get this job done for them either faster, or you can have less hassles or reduce some risks facing or do it at a better cost. And these are the ways that you actually increase
the value. But you have to look at your market. And you can use your risk sticks to research what's happening in your targeted market. What is the burning platform for those companies? And where in the value chain are those companies? You can do a pastel study which looks at the politics of the sector, the economic indicators of the sectors? Are they spending more? Are they spending less? What are the social elements that drive that sector, technology and innovation? What is the regulatory regime that's driving the sector Know your value proposition articulated while you are the most expensive brand you'll ever have an opportunity to sell. So know it, use inspiring words to yourself
only once you understand how and what value the customer wants to grow into electrical product coating, you have this idea. And you've done a lot of that research around your customer,who they are if its really a problem with just exists in your head. And then you start putting together concepts or concepts will be like some sort of drawing so if you are developing an app, it will be a wireframe, we go like this, they go to this screen that screen. And let's look at the process flow that your customer will take through your product. And he's not ready to start figuring outhow to add value to them how do you create more of the good, alleviate and review that them and give them the rest of the back. And through this process of understanding value, you actually start understanding how to add exceptional value and add more value than all the alternatives, competitors workarounds that they have in this space, you want to find one or two customers who will help pilot and you go test it out in the market and in real life environments. Then you have your MVP, which you put out to a lot of customers we expose available to everyone pilot is still very limited the size of the customer MVP that's out there, and it's still very basic product but it gets the job done and it does look good fashion. So it's not a slap together. Actually, Marvel is a product that is not done but still needs a lot of work. And then you can see that then you have the same page and then you start prototyping kneeboard small parts of business and products and you start tasting those in the market compared to talking anything from your business processes to How To Market Your Your marketing channels and advertising channels to your actual plastic your your product.
Running a business is not a sprint, it is a marathon. And you know you really have to look at this as a long term commitment.