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Suicide startup or hobby business?

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This blog post is inspired by Startup Edition: XVI – How do you turn your idea into a startup? I want to show you the main ideas from best blog posts in this edition.

If you want to start a new business there are some things you can do very fast to see if your business idea makes sense – even before sketching your business modell on a canvas or doing Customer Discovery.

asian guy shooting himself in the head with a water cannon

If you’re not passionate about the business you’re doing then you might get insane at some point in time.

First of all,

choose the market and then solve a problem for the specific group of people inside it. You should always keep in mind that you will spend 4+ years with these guys. In our case, we want to work with motivated smart people like entrepreneurs because of their positive energy. You should be as passionate as your target group about their interests. At best, you’re a part of them and try to solve with them a specific problem.

Hard facts matter too

Beside the passion, you shouldn’t forget that you have to be able to build and run this business under good market conditions which includes to have required skills and enough capital. You should do a research on all these topics and of course go out of the building and talk with as many potential customers as possible. Do Customer Development, talk with industry experts and put yourself in the mind of customers. With these methods, you will quickly become a domain expert in the chosen industry.

Test it with a blog

A perfect way to check this, is to write a blog which could inform your potential customers about the topic you’re presenting. This is also a great way to communicate with your customers who can give you a feedback regarding your business. If you can’t build up your own blog you probably won’t be able to build up a business at all. I really like this approach because you can create a blog in your free time and check if you can gain the attention of others who are interested in you and your topic.

If you can create and deliver real values to your customers, combined with your passion under right market conditions then you shouldn’t hesitate and do it. Otherwise it could end in a hobby, a scientific experiment or even suicide.
 

Author: Kamil

Co-founder of LEANHEROES & MAK3it. Entrepreneur, Business Designer and Lean Startup evangelist. He wants to make it easier for entrepreneurs and intrapreneurs to reduce the risk of their business models and help them to create products that deliver sustainable value to their customers.

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