Tech visionary and seasoned startup leader over 12 years, driving growth and innovation across 4 ventures, with 1 successful exit.
To validate a business idea and create a specific strategy, I'll start by conducting thorough market research to understand my target audience's needs. For instance, if I'm considering a subscription box service for eco-friendly products, I'll research consumer preferences for sustainable goods and competitors in the market. Next, I'll develop a simple Minimum Viable Product (MVP), perhaps featuring a curated set of eco-friendly items, and gather feedback from a small group of potential customers. Based on their input, I'll refine the product offering and iterate as needed. Alongside, I'll outline a clear business model focusing on subscription pricing and calculate basic financial projections to ensure profitability. Finally, I'll plan a pilot launch to test the concept on a small scale, utilising social media and targeted online ads for initial customer acquisition. This step-by-step approach will help me validate demand, fine-tune the offering, and establish a strategic foundation before committing to larger investments in materials and full-scale operations. Hope this helps - but more than happy to chat further as I've been through this cycle more than 4 times with a successful exit. No written rule, but always great to learn from experience and iterate fast.
When faced with setbacks, I will consciously shift my mindset to see challenges as stepping stones to progress. For example, if I encounter difficulties in a project at work, I'll remind myself that each obstacle is a chance to develop new skills and problem-solving abilities. I'll draw on my past experiences of bouncing back from setbacks, like when I navigated a difficult academic semester by seeking extra help and adjusting my study habits. To enhance adaptability, I'll assess my current strategies and be willing to pivot if they're not yielding the desired results, similar to how I changed my approach to fitness when one routine wasn't effective. Demonstrating grit, I'll maintain my enthusiasm and dedication to my goals despite any initial setbacks, just as I persisted in learning a musical instrument even when progress felt slow. I'll proactively seek out mentors and peers who can provide guidance and encouragement, recognising that their support can make a significant difference in my journey, akin to how I benefited from a mentor's advice during a challenging career transition. Through it all, I'll remind myself that setbacks are opportunities to learn and grow, much like an aspiring chef using failed recipes to refine culinary skills and eventually succeed. Hope this helps? Happy to chat if needs be.