What does a startup actually do?
Do they build products, sell them, or for heaven's sake, just burn cash.
The fundamental activity of a startup is to turn ideas into products, measure how customers respond, and then learn whether to pivot or persevere.
By Eric Ries in his book The Lean Startup
You have a brilliant idea for a product. You're convinced it's going to take the world by storm! But here's the catch – you're not entirely sure if your idea will actually work out.
Well, welcome to the wild world of startups!
Once your product is out in the wild, you observe how customers respond to it.
Will they use it, or will they give it a sideways glance and move on?
And here comes the fun part – based on customer feedback, you have to make a crucial decision: to pivot or persevere.
Imagine you're running a waffle truck business, and customers are raving about your delicious waffles.
But hey, they also suggest adding mouthwatering toppings like chocolate sauce and whipped cream.
Now, you have two options. You can pivot by transforming your waffle truck into a dessert paradise, serving irresistible waffle sundaes.
Or you can persevere with your classic waffle recipe, sticking to what you believe in.
It's like choosing between becoming the next Willy Wonka or holding onto your grandma's secret waffle recipe!
Stay agile, listen to your customers, and be prepared to pivot or persevere. Who knows, you might just end up with a waffle empire that is the best the world has ever seen.
P.S. If you want to dive deeper into the exciting world of startups, check out Eric Ries' book "The Lean Startup".
This is for the starter who is starting a Start-up.. a great start for a new day with new learnings to START 🚀