A serious and common problem is the investment risk associated with the implementation of new business ideas, especially startups. Rationally optimize your time and cost expenditures while implementing your business ideas, using the Lean methodology. Thanks to this, you will quickly find out if your ideas are reflected in the market demand and how they can be tailored to the needs of potential users. You will also examine whether your business model is correct and learn about your client segment.
If you are going to a new place, it is always better to have a map with you. Thanks to the designated path from point A to point B, you will not wander around asking random passers-by if you are heading in the right direction. It is the same with new business ideas.
If your idea is related to the creation of an IT system/platform, use the help of Sagiton experts who will not only consider its technological aspects, but also pay attention to its business requirements. Together, we will analyze many important issues, such as: what value your solution should bring to users; what investment costs should be included in the initial phase, or what monetization may look like. The analysis will allow you to look horizontally at your idea and fill any gaps in the plan so that you will reach the designated point B in the best possible way.
The launch of a product always arouses a lot of curiosity. However, before you officially share it and give it to the recipients, it is good to run some A/B tests and do research on its business model and prototype.
By using this support before the implementation, you will be able to verify your business idea, processes within it and the specificity of the client segment (e.g. by sentiment analysis). The feedback will allow you to tailor the solution to the needs of the market at the very beginning of the investment process. This results in lowering your risk, increasing the interest of the consumer environment, as well as having the opportunity to build a base of potential clients.
One of the positive business scenarios is designing a product that will not go unnoticed and will be very popular among customers. Therefore, to be sure that your product meets consumer requirements, we will jointly prepare its minimum version (Minimum Viable Product, MVP), while maintaining key functionalities that you would like to verify among its early adopters.
This approach will enable an iterative adaptation of your ideas to signaled expectations, and in combination with A/B tests, empirical research and Customer Development activities, obtaining the optimal form tailored to the specificity of the market (Product/Market Fit, PMF). All this will significantly influence the reduction of risk associated with this venture. As a result, your product will not constitute another dubious proposal, but a fully expected market solution.
The father of American advertising, John Wanamaker, once said” ”Half the money I spend on advertising is wasted; the trouble is, I don't know which half”. Unfortunately, this statement seems to be still valid, judging by some marketing campaigns. It does not have to be this way.
Thanks to the support from the Growth-Hacker team, your online/offline campaigns will be linked to mechanisms of measuring their effectiveness (including scripts, report generators, consumer behavior analysis engines, lead collecting systems). You will know which channels, which forms of communication and which industry sectors best respond to your campaigns. This will allow you to make conscious decisions based on numbers, not on unconfirmed hypotheses. Do not waste financial resources and make sure that every penny is spent wisely and brings you tangible benefits.