We just came back from one of the most intense, yet enriching experiences we ever had as entrepreneurs: a full accelerator-mode week at Google Launchpadx at Campus London, Google’s seven storey space for startups.
Here is something we learnt that may come in handy to fellow startuppers, when thinking about your next great idea.
Validate or invalidate
Your idea is great, unless it isn’t. Validate your business proposition on field, addressing a real problem with a well-conceived solution.
Data, data, data
Always base your decisions on data, not assumptions. Metrics are essentials not only to financials but mainly to strategic thinking.
Test, test, test
Derived from the previous rule, to gather data it is necessary to test your hypothesis. Everything can and must be tested, from copywriting to user interface, to pricing strategy, to features selection.
Be a scout
Reach out to people and talk to prospect clients and resellers. Scouting is essential not only in a startup’s early stage but in every development phase. It helps to keep rooted to the users’ needs and not to lose focus.
Minimum viable product
Your MVP must convey the basic features to address the problem you are tackling. Keep your goal in mind and be sure not to overdo things.
These are just small hints on the topics addressed during this intense week. We came out of the programme with a better understanding of our target market and a renewed committment to deliver Sherlock to our customers as soon as possible.