Entrepreneurs continue to follow traditional thinking of starting with a business plan and then executing it. Most entrepreneurs treat the information in the business plan as the proven recipe for reaching their goals. The problem is most of the information is estimates, guesses, and just plain wishful thinking. How much of the information in your business plan is rock solid facts and data? Unless you have direct experience with the market, customers, and stakeholders, it’s not likely to be based upon actual experience. In which case, you are simply not ready yet to write a business plan. This is where the concept plan coupled with a strategy for business experiments comes into play. It creates the mindset within the entrepreneur that one needs to discover the right product and business model through direct experience before one can write that rock solid business plan.
Most entrepreneurs have a technical skilled background. If they are starting a software company, they were trained as programmers. If they are starting an architectural firm, they were trained as architects. They focus on the end product for the skill, which is either developing the product or providing the service. Time and again, I find entrepreneurs who don’t want to spend money of the ‘other’ aspects of a business because they think the product is the biggest piece to success – until it is almost too late. Yet, their start-up is a business. Investors only attribute 10% of success to the product, the rest is the business that surrounds the product. Anyone considering this course has figured out that the product isn’t everything and they need to know what the rest is.
Your Startup Company as a Business Experiment Video Series provides a new modern innovative approach on how to achieve business success.The entrepreneur is provided with a way to simplify what they need to focus on and in a way that is doable and manageable for them. Science meets the business world and entrepreneurs make the discoveries that lead of the right product and business model. This seven module video series is based upon my personal experiences or upon those of entrepreneurs that I’ve dealt with over the years. New business are able to avoid common mistakes that entrepreneurs often make.
Cynthia Kocialski is the founder of three start-ups and helps entrepreneurs transform their ideas into new businesses. For more details about the video, go to http://www.udemy.com/your-start-up-company-as-a-business-experiment or go to her website www.cynthiakocialski.com.