How to START ANY BUSINESS (with this 5-Step Model)

October 30, 2020

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Many people have ideas but don’t know how to turn them into businesses.

In this episode of #EntrepreneurWeekly, I share a 5 Step Model that anyone can follow to start any business as well as 5 mistakes many first time entrepreneurs make when starting out

The concepts are borrowed from the Lean Startup Model proposed by Eric Ries in his popular book, The Lean Startup which I think every entrepreneur should read.

Though the concepts of Lean Startup are more tailored towards tech startups/businesses, they can be adapted for businesses in any other field as well.

 

Use the timecodes below to jump to different sections of the video
Timecode
0:00 – Intro
0:43 – Step #1 – Identify a problem or pain point
2:31 – Step #2 – Research the opportunity
4:41 – Step #3 – Build a Minimum Viable Product (or service) MVP
6:57 – Step #4 – Refine your product/service
9:26 – Step #5 Pivot or Persevere
11:20 – Conclusion

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