It’s been a while since I wrote and the Founder Institute is to blame. I’ve been intensely refining my ideas to formulate a viable high growth business plan. My plan is still under wraps, but it sure will be a high growth business.
A few takeaways from the sessions so far -
- Most important question for evaluating an idea – How big is the market and who is the biggest player, how much are they worth?
- Confused customers do not pay
- Your customer should be able repeat your message
- Carefully understand the difference between a prospect and a customer. A customer pays
- Figure out if your offering is a Vitamin or a Painkiller. Painkillers are always easier to sell.
- Execution is key. Read Scott Belsky’s Making Ideas Happen.
- Focus on your customer to make better products. Focus on the competition for new products. (Steve from PropertyGuru)
- Deconstruct.
- Niche markets!
- Keep it simple
- Order of importance. Customers > Employees > Shareholders
- Focus. Focus. Focus.
I’ll add more in the weeks to come.