Execution Time: Moving your Business Idea forward Fast and Effectively

Whether you’re launching a new business or refining ideas at a later stage, the key to success lies in testing, iterating, and moving forward quickly and effectively. These steps are essential to transforming your vision into a thriving business.

I recall studying with someone who once had the idea of creating credit cards for children. Fast forward to today, and we have Revolut. While the concept has evolved into a broader fintech solution, it highlights how rapidly ideas and markets can transform.

So, how do you move forward with your business idea? As an entrepreneur, you have to do it all at once and it‘s sometimes hard to understand what to focus on and what to prioritize: 


Step 1: Validate your Idea

In a first step, focus on offering something that people want to buy and use. This needs to be validated as lean and fast as possible. The term prototyping has been overused and can mean a lot of things, so I prefer the word „Pretendotyping“ for this very early testing phase. Try to build the easiest and simplest version of your product and service and see if people are willing to buy it. This step can be completed within a few weeks and should not take longer than 3 months. 


Step 2: Find the Path to your Customer

In the next step, once you’ve validated that you’re building something people want and are willing to pay for, you can shift your focus to top-line testing. This means that you try to find the best path to your customers through marketing and sales. Which channels work? Which ones don’t? How can you scale effectively? Stay focused on a specific user group and market. Initially, aim to dominate your region or niche, then expand into other markets or product/service segments from a position of strength.


Step 3: Bottom-Line Efficiency

In the third step, you focus on the bottom-line efficiency of your company, examining your processes and finding ways to scale them while keeping costs stable. Be aware that many engineers tend to focus on this step too early, without first validating whether their technology and innovation are wanted by the market. Optimizing the backend code should come at this stage, while step 2 should prioritize front-end engagement with the customer.


Steps 2 and 3 are part of the critical process of achieving product-market fit – a stage where many start-ups face their greatest challenges. It can take years to master, but the key is to stay focused on moving your business forward along the way. Be prepared to make bold, quick decisions, even if it means completely changing the direction of your business. Resources may be limited, but a clear strategy and decisive action will get your idea off the ground.

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