Glimpse on Startups
A startup is a temporary organization designed to search for a repeatable and scalable business model. Once these organizations gets the clear and crisp view on the factors such as Product, customers and revenue it will transform into the real business.
Key Determination Factors of Startups
Ideas on Minimal Viable Products (MVP)
MVP (Minimal Viable Products), is the strategy for the startups which allows them to collect the maximum amount of validated learning about the customers with least effort. The startups should have a broad idea in choosing the right MVP strategy which will validate the problem-solution and product-market hypothesis.
Agile for Startups
1. Individual interaction over process and tools
2. Working software over comprehensive documents
3. Customer collaboration over contract negotiation
4. Responding to Change over following a plan
Pains of Startups
1. Unrealistic estimates, schedules and staffing
2. Unmanaged changes
3. Unclear scope and requirements
4. Unmanaged risks
5. Lack of executive commitment
6. Poor communication
Overcome Risks
1. Create quick and responsive values for the customers
2. Eliminate resource wastes
3. Response to changes quickly and manage change impacts
4. Manage time and capacity
5. Learn from failures and recovery quickly
We Suggest and Conclude…
1. Validate your Ideas gradually: Implement core functions, launch it and analysis how your customers react, based on which you can improve your business.
2. Pivot: Based on the situation, decide a change in strategy without changing your vision
3. Face the real world complexities
4. Focus on the minimum solution through MVP analysis
5. Elevate the pitch and show your customers that you are different and unique than others.
6. Develop your value proposition towards customers
For more information about Agile Methodology for Startups, Please visit: https://www.optisolbusiness.com/wp-content/uploads/2019/08/Agile-for-Startups.pdf
