Author and entrepreneur Steve Blank describes the business start-up process as having two phases.
In the first, entrepreneurs learn about their customers and what they want. This can be thought of as a series of experiments with real customers. It eventually leads to a business model that can be used to build a sustainable venture.
Once we learn what our business model needs to be, we can begin the second phase, which includes attracting more and more customers and building a company.
It is essential that we take our time before moving to the second phase to make certain we're building our company around a business model that can lead to successful growth.
In the first, entrepreneurs learn about their customers and what they want. This can be thought of as a series of experiments with real customers. It eventually leads to a business model that can be used to build a sustainable venture.
Once we learn what our business model needs to be, we can begin the second phase, which includes attracting more and more customers and building a company.
It is essential that we take our time before moving to the second phase to make certain we're building our company around a business model that can lead to successful growth.
(To read the complete article on http://myventurepad.com, it might require a membership. To become a member and read the article, please click here)