5 Steps to Startup Success in 30 Words

Originally posted on David Cummings on Startups:

Earlier today I was talking to a student about entrepreneurship. Naturally, he was very focused on the traditional model of identifying a problem, writing a business plan, building a product, and finally talking to customers. I told him that everything he was doing was backwards except for identifying a problem. After the conversation, I thought to myself that there had to be a concise way to describe the necessary steps for startup success.

Here are the five steps to startup success in 30 words:

1. Find a problem in a big market.
2. Line up customers willing to buy it.
3. Build a great team and culture.
4. Build a great product.
5. Build a repeatable customer acquisition process.

In 30 simple words we have five actionable steps in order of priority. While there are many more details, this provides a great outline for entrepreneurs to follow.

What else? What…

View original 13 more words

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