The 20 Reasons Startups Fail
Build Your Startup Like a Serial Entrepreneur
Designing your business model
Now, let’s dive into the three stages in a little more depth. In another section, we’ll also talk about how we can build experiments to solve for these questions.
The first stage is the Validate stage. However, even if you are in a later stage of the Roadmap, it is helpful to look over the questions in this stage thoroughly. Is there anything you perhaps did not do completely or that you want to revisit?
In the Validate stage, the two primary questions are: “Is there a problem worth solving?” and “Are there customers who are experiencing this problem?” Notice the question isn’t ‘Are there customers who have the problem’ but rather “Are there customers who feel the problem...who know they have it?”
The best way to find out the answer is to go out and talk to people.
Next, in order to evaluate whether there is a market for the business that you want to create, we recommend doing a really simple financial model. We have a video in the Fluent Resource Library that talks about how you can do that.
And finally, questions 4 and 5 are personal. It is possible that in the process of talking to customers, and while envisioning what your business could become, you might find that you need other people on your team to pull off the business that you are thinking about. It is also possible you might find that you are going down a path where the business that you would need to create is not even something that would make you happy. And at the end of the day, you should absolutely be building a business that is a good fit for you, your expertise, and your interests -- the kind of business that will make you happy in the long term.