How To Launch Your Startup The Right Way

Launching a startup? Validation is key! Don't get hung up on perfecting your initial idea (ideation). Steve Blank, a lean startup advocate, emphasizes getting out of the building and validating your assumptions. Conduct thorough market research to understand your target audience's needs and pain points. Analyze your competitors to see what they're doing well and identify potential gaps. This will help you craft a compelling business model with a clear revenue model. But remember, your initial assumptions may need to change. Be prepared to pivot based on customer feedback. Embrace the lean startup approach – build a minimum viable product, test it with real users, and iterate based on their needs. This data-driven approach will increase your chances of building a successful startup.

Here is a list of our most read articles that will help you launch and run your startup successfully.

Turning Your Invention Into a Business

Embark on the journeys of three visionary entrepreneurs who transformed mere ideas into flourishing enterprises. Their stories unveil the crucial elements of navigating risk, conducting thorough market research, and embracing adaptability. From the inception of Brizo Everything Dressing to the innovative concept of CoolRevolution, these narratives offer invaluable insights for aspiring business owners aiming to bring their visions to life. https://eiexchange.com/content/turning-your-invention-into-a-business

 Learn From Leaders: Developing an Idea

The article introduces "Learn from Leaders," a series distilling insights from interviews with renowned CEOs like Dick Schulze and Linda Hall. It emphasizes the non-linear nature of idea development in entrepreneurship, offering wisdom for early-stage innovators. https://eiexchange.com/content/learn-from-leaders-developing-an-idea 

Go Goldens Drives Home the Importance of Pivoting

Entrepreneurs can learn pivotal lessons from Evan Eddleston's entrepreneurial journey with 'Go Goldens.' Starting with transportation solutions for retirement communities, Eddleston showcased the importance of adaptability. By shifting focus to health monitoring solutions, he demonstrates the entrepreneurial skill of recognizing market needs and adjusting strategies accordingly. https://eiexchange.com/content/go-goldens-drives-home-the-importance-of-pivoting 

Five Very Fast Ways to Better Understand a New Product or Market

The article proposes a swift validation method for startup founders to refine business ideas promptly. Emphasizing quick feedback loops via surveys, interviews, and A/B testing, it underscores the significance of external validation. This approach aligns with Lean Startup principles, aiding founders in honing their concepts efficiently. Post-test analyses allow for informed adjustments, potentially steering the startup towards a pivot or abandonment if necessary. https://eiexchange.com/content/209-five-very-fast-ways-to-better-understand-a-new-p

Building a Company Step By Step Ch. 3: An Introduction to Customer Discovery

The article explores Chapter 3 of "The Startup Owners Manual" through an interview with Taralinda Willis, co-CEO of Curate. Initially targeting developers, Curate expanded its market to serve diverse clientele, including realtors and lobbyists. Willis emphasizes the importance of customer discovery and maintaining early customers' satisfaction. The company's evolution culminated in its acquisition by FiscalNote in September 2021. https://eiexchange.com/content/building-a-company-step-by-step-ch-3-an-introduction-to-customer

Building a Company Step By Step, Ch. 4: Your Customer Hypothesis

In an interview with serial entrepreneur Brian Wiegand, EIX explores principles from "The Startup Owners Manual." Focused on Chapter 4, the discussion delves into building a business model hypothesis, addressing visionary vs. uncertainty management, product development strategies, market definition approaches, and the role of a minimum viable product in resource allocation and marketing for new companies. https://eiexchange.com/content/building-a-company-step-by-step-ch-4-your-customer-hypothesis

Building a Company Step By Step, Chapter 5: Get Out of the Building

The article features an interview with Rachel Carpenter, founder of Intrinio, discussing the principles of customer discovery outlined in "The Startup Owners Manual." Carpenter emphasizes the importance of getting out of the building to test market interest, despite her more relaxed approach. She shares insights on building contacts, adapting visions, and the value of structured customer discovery while acknowledging the necessity of taking risks in entrepreneurship. https://eiexchange.com/content/building-a-company-step-by-step-chapter-5-get-out-of-the-buildin

Building a Business Step by Step Ch. 7: Verify the Business Model

In an interview with Jennifer Lane and Priyanka Jarh, co-founders of Laquerus nail salon, they discuss Chapter 7 of "The Startup Owners Manual," focusing on verifying the business model. They adjusted their salon's model based on customer feedback, offering non-toxic services with appointments and prioritizing safety. Laquerus, now a popular spot in Madison, Wisconsin, may expand further. Lane and Jarh share insights on their business evolution and future plans. https://eiexchange.com/content/Building-a-company-step-by-step-ch-7-verify-the-business-model

Building a Company Step by Step, Ch. 8: Introduction to Customer Validation

In an interview with EIX, entrepreneur Dan Reich delves into Chapter 8 of "The Startup Owners Manual" by Blank and Dorf, focusing on Customer Validation. Reich stresses the significance of testing and experimentation before investing resources into a product or service. https://eiexchange.com/content/building-a-company-step-by-step-ch-8-introduction-to-customer-va

Building a Company Step By Step Ch. 10: Get Out of the Building and Sell

In Chapter 10 of "Building a Company Step By Step," EIX interviews Fetch Rewards founder Wes Schroll, detailing how the company evolved from local to nationwide success by initially engaging directly with customers, following the principles of "The Startup Owners Manual." https://eiexchange.com/content/building-a-company-step-by-step-ch-10-get-out-of-the-building-an

 Building a Company Step by Step Ch. 11: Product and Company Positioning

The article delves into Chapter 11 of "The Startup Owners Manual" by Steve Blank and Bob Dorf, focusing on product and company positioning. Corey Capasso of Urbint, a tech firm specializing in infrastructure threat prediction, shares insights on entrepreneurial experiences and Urbint's evolution. He highlights the impact of the pandemic and climate change on infrastructure and emphasizes AI and technology's role in disaster prevention. https://eiexchange.com/content/Building-a-company-step-by-step-ch-11-product-and-company-positi