The 20 Reasons Startups Fail
Build Your Startup Like a Serial Entrepreneur
Designing your business model
Fluent organizes its effort around three goals:
1. We want to help you focus. 2. We want to help you move fast. 3. And we want to help you learn from your customers.
Our FLEX Planner (Fluent Lean Experiment Planner) process helps you with all three. To get the most value out of it, you have to embrace the concept of tiny, fast experiments.
What we have found through working with hundreds of startups over the years, is that you do not need to create an elaborate multi-factor test to learn in broad strokes whether your business model will work. Generally speaking, you are either very, very right or very, very wrong. A few data points will indicate that either way.
Plus, you do not actually have time to wait weeks, months, or years to find out if your business model will work. You need to know right now. In our work together, we are going to combine the three key ideas listed above to help you achieve this.
For instance, let’s think about moving fast. Each experiment you run should be executable within a one- to two-week period. That includes setup, execution, and data collection. Getting good at this is a skill, so it will be a major focus of our Coaching Sessions.
You have limited time and resources, so we need to focus on the highest priority learning. For this reason, each experiment you set up cannot be just something that would be interesting to learn, or easy to find out. Instead, each experiment needs to identify and address the riskiest assumption in your business model right now. We are going to challenge you to constantly keep the focus of your work on the biggest risks that need to be tested, validated, or adjusted if you are wrong.
These experiments are all about learning from your customers. At Fluent, we believe there is only one way to discover the best way to build your business. It is not from mentors; it is not by reading blog posts or business advice books; and it is not from trusting your gut or even listening to our opinions. Instead, by designing and running tiny, fast experiments with your customers, you will be able to achieve your goal faster and more efficiently. Ultimately, this is going to allow you to build a valuable, profitable, and scalable business your customers cannot live without. So, let's get started!