<aside> 💭 “The minute you begin to feel yourself 'working hard' as opposed to 'playing a challenging game' it's time to take a break or get around some new people” - Daniel Priestley
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<aside> 💡 Conceptualising is the first step towards starting your own business. This involves brainstorming and exploring ideas to identify a unique business opportunity that aligns with your interests and skills. During this phase, it's important to conduct market research to assess the viability of your idea and to identify potential customers. Additionally, you should develop a clear understanding of your value proposition and how your business will differentiate from competitors.
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<aside> 💡 To generate leads, the minimum viable product (MVP) should be a simple and effective tool or resource that showcases your unique value proposition. It should be designed to attract potential customers and give them a taste of what your business has to offer. Keep in mind that the MVP is just the first step in the journey towards creating a successful business, so it should be something that you can build quickly and inexpensively.
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<aside> 💡 Product Market Fit is the point at which a product or service satisfies the needs of the market in which it operates. One way to determine whether you have achieved Product Market Fit is to have conversations with your customers to understand their needs and how your product can address those needs. These conversations can help you refine your value proposition and tailor your product to better meet the needs of your customers.
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Once you have your MVP and have achieved Product Market Fit, it's time to launch your business and start generating revenue. This can involve creating a marketing plan to promote your product or service, identifying potential customers, and establishing partnerships with other businesses. It's important to have a clear understanding of your target audience and to create a compelling value proposition that sets you apart from your competitors. As you launch your business, be prepared to iterate and adjust your approach based on customer feedback and market conditions.
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After launching your business and achieving Product Market Fit, focus on expanding by identifying new markets, refining your value proposition, and seeking additional funding or resources. Remain focused on your mission and adapt to changing market conditions and customer needs to position your business for long-term success.
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⬇️ Episode with Daniel Priestley
https://www.youtube.com/watch?v=VwLqwcjJwRo