1. DEVELOP YOUR IDEA There are many good ideas. If you need help understanding what a strong idea looks like, the City offers some helpful services.
2. TEST YOUR IDEA You should find out whether your idea will solve real problems for your potential customers. Ask them what they think or put a prototype in their hands to get their feedback early.
3. DEVELOP YOUR BUSINESS MODEL There are many different business models, but most include a statement about how your product will be valuable to customers and how it will generate profit.
4. REFINE YOUR PITCH A good pitch briefly explains what your unique advantage is over the competition in solving customer’s challenges.
5. DESIGN A MVP A minimum viable product contains only the core features and can be released to the market quickly. You can learn from it to guide the further development of your product.
6. DECIDE WHAT TO MEASURE A good rule of thumb is to measure as many things as you can and decide what is important to understanding your business’s progress.
7. PREPARE TO GO-TO-MARKET Getting into the market is something you’ll want to test. There are many interesting discoveries to make about how to get your product into customers’ hands.