Start-up development is a process that needs special attention. If you miss any details or subtleties, you can come to the fact that your business will go into decline – thoughtful analysis and business development help to solve the problem.
Optimal start-up development
Every start-up is looking for matches. They are customer-problem, problem-solution, solution-product, and product-market. Each of the listed stages of start-up development has its subtleties:
- Problem interviews, expert interviews, and surveys work at the client-problem stage.
- At the problem-solution stage, decision-making interviews and surveys work.
- In the solution-product phase, early adopters are analyzed.
- Marketing, scaling, and customer retention come into play during the product-to-market phase.
Each start-up contains a set of untested hypotheses at the beginning. In the process of going through these stages, he encounters adventures as in the picture.
Finding a problem
The most important thing is finding the client’s problem and penetrating deeply into his needs. A problem interview should answer whether a hypothetical problem exists.
It is necessary to conduct a thorough assessment of the niche for the product to be in demand among potential customers and attract valuable investments. You need to check if your product fits the customer segment. You also need to evaluate the possibility of solving customer problems with the help of a product and service, whether the customer is ready to pay money for the product or service received. Identifying a problem is vital in the early stages of a start-up to avoid significant future problems. Business development helps in solving the problem.