Recently I was at South by Southwest Interactive and had the pleasure of attending a seminar where Eric Reis, author of the inspirational book, The Lean Startup, talked about the “what” and “why” of his philosophy. He cleverly omitted any mention of the “how” so you would have to go and read his excellent insights-filled book if you hadn’t delved into it already.
I was interviewed the day after attending Eric’s seminar by Suzi Dafnis, who was attending the event in her capacity as the Community Director for the Australian Businesswomen’s Network (ABN), based in Sydney. Suzi believes passionately in supporting women in business, and has been actively involved in the ABN since 1995 and it was a pleasure to sit down with her and talk about what I had gained from Eric’s presentation.
One of Eric’s key points, which is essential for any startup business to heed, is that you need to make sure you are creating something that people want to buy. That may seem like a basic thing to get right but so many startups get so excited by their vision, they forget this adage. There’s no point expending months and years of effort and expense only to launch your business and have no one want to buy your product. Start with what Eric terms a Minimum Viable Product and see if people will buy that before adding all the bells and whistles you may think the product needs.
He also talked about the concept of “Pivoting” whereby if your initial approach to launching the product isn’t working, you don’t simply junk the whole idea but rather change strategy till you can find a way to realise your vision.
[vsw id=”F8C2WEzV7TM” source=”youtube” width=”425″ height=”246″ autoplay=”no”]
You can view other videos on the Australian Businesswomen’s Network hosted by Suzi Dafnis with Coastal Accounting’s Alycia Edger and business coach and speaker, Cat Matson, click here.