Recently I was interviewed by Julia Fiedler at DRadio Wissen (Radio! Yes – it’s actually still around!) about what to do if you have a business idea an how to proceed. Should you start by writing a business plan? If you are copying an existing proven business model, say opening a new ice cream shop around the corner – maybe. If you want to create a new travel app that the world have never seen before, most probably not.
“No business plan ever survives first contact with customers!” – Steve Blank
Business Plans are guess-based works of fiction and what you want to be doing is to get from a guess-based fantasy to a fact based business as soon as possible.
So what should you do instead? In the radio interview I talk about the concepts and methodologies of Customer Development, Business Model Generation using the Business Model Canvas and building and testing Minimum Viable Products (MVP) – the minimum you need to build or create to start testing and measuring if the guesses about your product, customers and revenue model are correct.
Have a listen [in German] for yourself.