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How to start a successful business
How to build a strong team
How to market your business
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According to Eric Ries, there are two main reasons for startup failures:
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“The engine of growth is the mechanism that startups use to achieve sustainable growth. I use the word sustainable to exclude all one-time activities that generate a surge of customers but have no long-term impact, such as a single advertisement or a publicity stunt that might be used to jump-sta...
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“Startup success is not a consequence of good genes or being in the right place at the right time. Startup success can be engineered by following the right process, which means it can be learned, which means it can be taught.”
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Small batch approach
The Lean Startup methodology is based on a small batch approach, borrowed from the concept of lean manufacturing.
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The feedback that a startup receives in its experiments
can be qualitative (which product options they like and which they don't)
or quantitative (how many customers use the product, the number of registered users).
The Lean Startup concept is based on a Build-Measure-Learn fe...
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1. Create MVP and get feedback to understand the real state.
2. Try to bring metrics closer to ideal ones. It can take a lot of trying.
3. Decide whether to move in the same direction or make a pivot.
If you are close to the ideal metrics, you need to move in the same direction....
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1. Effective indicators. show what needs to be done to get the results you want. They help to learn from the results of their actions.
2. Simplicity of presentation. Reports should be presented simply and clearly. It is worth remembering indicators are th...
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We are just another couple of engineering students who love to explore new ideas in the fields of Tech, Productivity, Self improvement & Entrepreneurship
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Different kinds of hypotheses reflect different stages of your Customer Discovery journey:
During this stage you validate the assumptions underlying your value proposition, and discover what customers really care about. This is a long and iterative process.
Product-market fit happens when you have evidence that your product is creating va...
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