How To Start Up A Business – Lean Startup Strategy | Billijs | Skillshare

Playback Speed


  • 0.5x
  • 1x (Normal)
  • 1.25x
  • 1.5x
  • 2x

How To Start Up A Business – Lean Startup Strategy

teacher avatar Billijs, Creative Creator & Marketing

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Watch this class and thousands more

Get unlimited access to every class
Taught by industry leaders & working professionals
Topics include illustration, design, photography, and more

Lessons in This Class

9 Lessons (39m)
    • 1. Introduction to the course

      2:58
    • 2. Before you start the online course

      0:58
    • 3. How to generate business product ideas

      4:32
    • 4. Choose the right startup business idea

      4:35
    • 5. Basic research about the product

      2:27
    • 6. Lean startup method – Create the product

      5:48
    • 7. Marketing for startup busineses

      7:44
    • 8. Marketing – Advertising and AIDA Model with examples

      8:05
    • 9. Conclusion — 5 steps to a business

      2:03
  • --
  • Beginner level
  • Intermediate level
  • Advanced level
  • All levels
  • Beg/Int level
  • Int/Adv level

Community Generated

The level is determined by a majority opinion of students who have reviewed this class. The teacher's recommendation is shown until at least 5 student responses are collected.

44

Students

--

Projects

About This Class

This online course is created for those who want to start up a new business. I will tell you about 5 steps to creating a new business that will have a solid base for scaling it later.

Why should you trust me?
I have helped people to start several businesses in the last few years and finished a Master's degree in social sciences in Management I also invest a lot in self-education and will cover some of the most important things I have learned about starting a business in this online course so that you learn great principles which will help you a lot in creating your own business.

Learn to:

Create innovative product ideas for your business

How to choose a great product idea

What basic research should be like

A strategy for creating a great product effectively without spending an enormous amount of resources

Basic marketing steps for a new company

The course includes a look at the Lean Startup Strategy which is a very effective strategy to create a product that has high potential with relatively little resources.

Meet Your Teacher

Teacher Profile Image

Billijs

Creative Creator & Marketing

Teacher

Class Ratings

Expectations Met?
  • Exceeded!
    0%
  • Yes
    0%
  • Somewhat
    0%
  • Not really
    0%
Reviews Archive

In October 2018, we updated our review system to improve the way we collect feedback. Below are the reviews written before that update.

Why Join Skillshare?

Take award-winning Skillshare Original Classes

Each class has short lessons, hands-on projects

Your membership supports Skillshare teachers

Learn From Anywhere

Take classes on the go with the Skillshare app. Stream or download to watch on the plane, the subway, or wherever you learn best.

Transcripts

1. Introduction to the course: Starting your own business might be a frightening thought, but in reality, it is amazing. There are many reasons for starting a business. For example, you get freedom. You own your business. You can do what ever you want to do. Better motivation. You don't have to follow the instructions of your employer. You can do what you think is right and follow your own plan. You're going to follow your passion. No one will tell you what you need to do. You can just do what you will and turn it into an income source. Achieve your financial independence. Sometimes it's very difficult to earn a decent amount of money when you are employed. So this is the opportunity for you to earn more. You can set your own goals. And the more you learn and the harder you work, the more money you can earn and even reach financial freedom. Control your lifestyle and your schedule. It is no more and 95 job. Choose time when you are most productive and do your job more effective so that you actually enjoy what you do. And you can start from scratch. It is a new business and you are the boss. You make the rules, you choose how to work, where and when to work. It is a new start, which can lead you to amazing places. The biggest mistake why new businesses fail is that they create something that people don't even want. People low their business ideas and try to sell them by talking about how good their product is and mentioning a bunch of facts that actually people don't even care about. In this course, you will learn how to generate product ideas which people are willing to buy, and how to find the best idea for starting a business. Entrepreneurship is all about doing. So. After you have got the right idea for the product, you will learn a method with which you will be able to create products that people actually want without spending a lot of time, money, and other resources for the research and marketing process. You will also learn the first steps for marketing your product to your clients. And I will show you examples so that you can learn better if you're willing to start your new business with all the benefits I mentioned before. Starting the course now and soon, enjoy your new entrepreneurial lifestyle. 2. Before you start the online course: A startup can change your life. It is one of those things in life which can lead you to new paths with unforeseen experiences. Let you develop new skills, and let you meet people who you would never have thought of meeting in person. It is a journey with mountains and wallet's. Be prepared. As successful startup will ask you to work very hard that seeing the result for a long time would when you reach some success, this time will turn into an exciting story. So let's start with the first stage of creating a startup business. 3. How to generate business product ideas: Generate product ideas. Finding a product idea can be a difficult task. But I will show you one way which will help you to generate more than only one idea. At the end of this first stage of creating a startup business, you should have a couple of ideas from which you can choose. The one which has the highest potential to succeed. To create a business, you will need people who are willing to pay for your product. People are willing to pay for products which made their life easier. Sell a solution to their problem. Start by creating a list of atleast, seven and day-to-day problems you see people have in their lives. Look around. Often. There are people who we know, who talk about their problems, our lot, dose all are opportunities for you. Look at the problems which your family members have. Talk to your friends, and tried to see problems that you yourself. Write them all down into one problem list. And then some examples for the problems could be, I don't like peeling potatoes. It takes so much time and makes the whole place dirty. Or I don't have enough time to go for a walk with my dog. Or it takes too much time to scrape the eyes from my car's Window, add render. And another. After taking off my hat, my hair always becomes a mess. And I just got a cat. But I don't know anything about cats. Now go on and create your list of problems. After you know the problems of people around you. Now, it is the time to create product ideas which would solve the problems. Be creative and create at least five product ideas. That would be the solutions to the problems you have written down in your problem list. This could take some time, but look around you and try to see how other products, how made or live better and what could be a product that people could use to make their lives better. While creating solutions. It is okay to look for inspiration from others, but don't copy what others do. Amazon, Paypal, Walt, Facebook, and other companies are great examples of a successful product. Think about what made these companies succeed more than others. Also, think about sampler solutions. May be there already is a product which could be made better to solve a problem better. So the take away of stage one is, first, find problems which you could solve. Second, find solutions which are the products to the problems. Third, get inspired by other products and success stories. Fourth, don't copy what others do. Create something original that is yours upgrades product, which is created by yourself. In the next video, we will talk about how to choose an idea which is most likely to succeed. 4. Choose the right startup business idea: The second stage is choosing the right idea. It is not always possible to create a totally new product which has never existed before. But that doesn't mean that you can make something that exists better. But when you think about choosing one of the product IDS, tried to choose one with a unique selling point, or USP, which is something unique about your product, which nobody else has. And preferably is not easy to copy. Don't fall in love. Don't fall in love with only one idea from your list. Sometimes the best ideas are those which we don't like at the start. But after awhile, we understand that it could be the best for doing business. Look at your product IDS. We want a successful idea. We want something that will work. And it's not always the idea that we like the most at the stored. With that said, do you even like the niche of the product idea? I recommend you to choose a product of the niche you like the most, so that you are ready to spend a lot of time thinking about an inch and interacting with people from that niche. Ask yourself, would you be ready to work in that niche for the next couple of years? It takes a lot of time to create a successful business. So be ready to spend a lot of time with your product and end this niche. And are you willing to dive deep and learn everything about the chosen niche? It takes a lot of knowledge to become successful at this time when there are so many products. So you have to learn a lot of things from niche, almost everything so that your product is top notch of all the products in your niche. A mistake a lot of people make is thinking that they are going to create many start-ups and the same time and will become a great businessmen with many successful businesses. The problem with this thinking is that every new business takes time and resources. And it is almost impossible to make more than one or maybe two businesses at the same time if you don't have enormous resources. So don't think too much about creating many businesses. You had to spend some time For one idea so that it can grow and turn into a great product with great marketing and great selling strategies. So the takeaway of stage two is first, find a USP, a unique selling point that will make your product special. Second, Be open to choose the best idea from the list. Don't fall in low with only one that you thought is the best. At the start. We irrational and choose the best from all ideas in the list. Third, choose an idea from a niche that you like. You will spend a lot of time in the niche. So choose one that you like and forth. Only choose one idea. It is not possible to create many successful businesses at the same time. If you invest time and resources for one product, it will most likely be more successful than when you choose to take the same time and resources and put it in three ideas. In the next video, we will talk about research. 5. Basic research about the product: Third stage, basic research. Sometimes we come up with ideas which have been already created by many others. So do some research. Go to Google and try to find whether there is something just too similar to your product. Define your USP, your unique selling point. If you want to be successful, you have to know why your product is better than the product of harder. Is it unique? Do you have a unique kind of delivery? Or maybe is the design better? Find a unique selling point and define it into words. When you look at your competition, you should not look at your competition as enemies. You can learn from your competition. What could you do better than then? What can you learn from them? The best thing to do with competition is to make them your business partners. At this stage, you can change your product so that you could benefit from them. And they could benefit from you. It will make the business better for both of you and you will how to turn a problem into an advantage. So they'll get your competition. Ask yourself how you can help them and how they could help you. The takeaway of this stage is first, be sure that others have not already created the same product which you want to create. Second, define your USB. Be original, and write down in words what your unique selling point is. Third, Know who your competition is. Fourth, turn your competition into your business partners. In the next lesson, we will talk about creating the product. 6. Lean startup method – Create the product: The reality of product development is that nobody really knows whether a product will sell. But it takes a lot of resources to create a great product. It takes time, money, and a lot of hard work. The solution to create the perfect product as using a step-by-step method, which is called The Lean Startup Method. Where the strategy is to create the product starting from a minimal viable product and develop it into stages so that it becomes the perfect product that you can sell and scale the ads, the marketing processes so that you sell a lot of them. To create a minimal viable product. Try to find out what the minimum requirements are for clients to pay money for the product. This could mean going on the streets and talking to people or creating a survey that you would send to a lot of people. So that you find a couple of people who would actually be willing to pay for a product which has only the minimum requirements to solve the problem. When you have found out the minimal requirements for a product for which people would be willing to pay some money. It is time to create the product. When you create the product, keep in mind that it should not only be functional, but also pay some attention for making it reliable, usable and with a decent design. While keeping these things at a minimal level, you don't want to spend too much time and resources. In the first stage of the product development. Hopefully you have found some prospects for the minimal viable product by now. The next step is to sell the product. Be ready for people to have changed their minds and sell your product to those people who would actually use it. At this stage, don't look for a big profit. Be ready to sell the product with a loss so that the prospects are happy, but they're still comes some money for continuing development process. So the next step would be to learn, know that people have used your product. It is time to do some research and make the product even better. Conduct all your clients and have a talk with them about why they think of the product. This information is extremely useful because the information comes directly from clients who are ready to pay money for the product. Even when it doesn't seem to be ready. Take notes with all the details of what people tell you. The better you research in this stage, the faster you can get to a product which is ready and worth selling in a bigger scale. Now it is time to repeat the same process several times. Try to incorporate the things which the clients wanted in the new product. Sell it now to more people. Learn from the new clients and repeat this over and over. And you will see that there is some insider information from the clients that you would have never known. If you would, just how created the perfect product that was in your mind when thinking about a product idea. So improve the product, sell, learn, and repeat. Actually, if you want to do good business, the product will never be ready and always be in that development stage or lead to new products. It is your choice to determine when the product is ready for a broader audience. Almost all products also have a lifespan. So be ready to do bigger investments in marketing when you see that people are satisfied that the product. So the takeaway of this stage is first research. While the minimal requirements for your products are, what does people want? Rich problems, should the product solve? Second, create a minimal viable product, a product that people are willing to pay money for. Third, cell, the minimal viable product. Fourth, learn what people really want. And fifth, repeat the process, make it better, sell the product. Learn, better, sell. Learn. And sixth, determine when the product is ready for a broader audience. The last stage is marketing, and we will talk about that in the next video. 7. Marketing for startup busineses: One of the biggest mistakes new startups make is thinking that your target audience is everyone. When you think that your target audience is everyone, marketing budget has to be enormous. The battery, you know your target audience, the cheaper the cost per customer will be. At the start, it is very good if your target audience is small, but has the opportunity to grow when the company goes BY very specific things about their age, their income, education, gender, or geographical location, even their habits, behaviors, likes and dislikes. This will help you create more effective marketing that has lower costs. Start with identifying the people who had the problem, which the product can solve. Look at those people who are interested in the product and they even have brought it, tried to create a target audience profile. A target audience profile for luxurious car accessories could be a man who is 30 to 45 years old, has a high-income, is interested in cars, likes new gadgets, and lives in highly developed city in America. You could even include where he works, what TV channels he watches, what he eats for breakfast, and what he's family status is. Other marketing specialists even create a profile with the man's name. And he's daily routine. So that when they create a marketing strategy and campaigns, they look at that guy and create an ad that is interesting for him. It will catch his attention, lead him to buying the product. There are a lot of marketing channels which you could use to sell your product. There is, for example, television, radio, outdoor advertising, word-of-mouth marketing, email marketing, content marketing, affiliate marketing, and so on. As you are starting out, I would recommend you to start with creating social media accounts on Instagram, Facebook, Pinterest, Twitter, LinkedIn, and even tick tock and others. And it's free and it is accessible. You don't need to create an account for every social media site. Do a little research and serve. One that would be best for reaching your target audience. For example, Instagram and Pinterest could walk well for fashion products or accessories. Linkedin could work for selling to professionals and take stock should be perfectly for reaching children and the youth. The secret to succeeding and social media is first post. Valuable and interesting content every day. And second, interact with people in a valuable and interesting way. Every day. As you see, it's important to be there every day. It doesn't mean that you have to be actually every day on social media. Sometimes it means that you are only on the working days there, but you have to be regular and create contents all the time so people know that you are there, you are active, and you will get noticed. Also the posts and the content doesn't have to be very high quality at the start. You can start with images from your phone. Research some facts about your niche. Look at what your audience would be interested in, and posts things like that. If you post only pictures of your product, it will get boring for your audience. So go and make something interesting. Create great posts. Make stories about how you create the product. By you create the product. And start to tell them the story of your product. And always try to tell them why they need your product. What is your product good for? People? Don't want to hear that your product is the best and it is great. People want to hear why the value is which your product will give to them. After building a solid follower base on social media, the next step is to start to advertise as television, radio, outdoor advertising, and other channels are very expensive. I would recommend to start with ads on social media sites that you use. Always define a target audience for your ads or else they won't be effective. And you will have to spend much more money to get the results that you want. When you start creating ads. Keep an eye on the result. Insights to learn which people interact with your ads so that you can define the target audience even better. And next time, when you create ads, you can create them with a better targeted audience and they will become much more effective. Marketing is a very broad topic. So I won't be able to talk about all the opportunities in this course. But keep in mind that finding the right target audience is essential. And the better you learn who your client is, the better results you're efforts will bring. So the takeaway of this stage is your target audience, is not everyone. The better you know your target audience, the cheaper the cost per customer will be. Social media is a great marketing channel for starting out. Post valuable content every day on social media. Interact with giving value every day on social media, leave valuable comments, go follow some people, like people's posts and give them some value so that you get noticed. Sixth, creates social media ads that define target audience. Seventh, learn from the ad results. And eighth, the better you learn who your client is, the better results you're efforts will bring. 8. Marketing – Advertising and AIDA Model with examples: The psychology of people is very interesting. There is a tendency for people to like only the things that they have seen or heard before. For example, in the music industry, music labels sometimes pay for radios to play the new singles so that people gets used to them and start liking them. Have you noticed that sometimes there are songs which you don't like when you are listening to them for the first time. But after some time passes. And you have heard it on the radio over the Internet, ads, et cetera. It, you start to like it. And sometimes it even becomes your favorite song. Next time you hear a new song because you don't like as much at discharge, tried to remember it and see whether you don't start to like it after some months. The same principle also works for advertisements. Some people say that people only known as a product after four times. They have seen it in the ads. Other people say that a product has to be seen at least seven times before the prospect notices the pearlite. So keep this in mind when creating advertisements. You have to show people the product as much as possible. And it is recommended to do that at least four days in a row for the same target audience to reach a better results. Don't stress too much about being too pushy. People are very forgettable and there is a bigger chance of them not noticing you then than to be annoyed by the ads. Marketing professionals often use a marketing funnel called aida, which stands for Attention, Interest, Desire, and the action. It is a model where marketing activities are created to reach each of these goals step-by-step. It is starting with reaching the attention of people through advertisements for a broad audience. The goal for these ads is to get the attention of people so that they are willing to go to the website or somewhere else where there is more information about the product. After we have got their attention, the next phase is interest. Now they are interested in the product and developing their preferences. And this stage, it is best to educate them about the product and the possibilities while telling about the positive factors which your product has. The goal is to make them trust your product and answer all their questions so that they are ready to buy. Afterward they are interested. It is time to create a desire, which can be achieved by scarcity, which is by offering our way good price, free shipping or a bonus gift for a limited time. Or showing people that there is a limited amount of products left. You can also emphasize that while people live without your product, they are missing out the opportunity which will make their life better. The last, but a very important step is to show them the exact thing that they have to do to buy your product. If you want to tell them to do the last step and one, make it very simple to do so a lot of people probably won't do it at all. Now, I will show you one example I have created, which goes through this either funnel. Here you can see an advertisement. As you can see, it is created by the cat company, which is a nonexistent company, and it catches the attention of a cat owner, this QED cat that is looking towards the information that is written there. So people actually want to read information. And what's written there is what your cat wants you to know about him. There is the opportunity to get this free PDF with information about your cat. And if you don't know a lot of wild cats, this is something that you will probably click on. And when the prospect clicks on this ad, the ad should lead to a landing page where you can lead them to the interest phase of either. In this example, we will create a rest with a free PDF they get. And we also asked for their emails so that we can create an email database for future email marketing, which still is one of the most successful marketing channels. So I recommend you doing the same. And the start, you can try to create your landing pages with Shopify, Squarespace, rakes, Mozilla, or another website creating platform yourself. But if you have the resources and professional website developer could create a better thought out website. When they have given us their email, they get the PDF. It should be with high-quality, valuable information so that the prospect starts to trust you and sees that they can expect even better things from your product. Tells them a couple of things on why you can be trusted. Of course, it has to be true information and should be related to the information in the PDF n2, the product you want to sell them. For example, you could say that you have a degree in this field are how analyzed many resources and expert opinions. And the pdf by asking whether it was a valuable, which it should have been a view created, it high-quality. This question should result in them telling themselves, yes, this company creates valuable things. Mentioned that there's still a lot they should know about cats and tell them about the product and a couple of benefits of your product, which will solve their problems and the best way possible, tell them exactly what to do to buy your product. In this case, there is a link which leads to another landing page. When leading them to the selling page, don't pull any unnecessary information and links on it. Just tell them that this product will solve their problem and make their life better and clearly show them how to buy the product. Here you can also add some scarcity, like I did in the example by adding the Countdown for discount price. Either is a very strong method, how to generate leads and how to boost your sales. So remember these four steps. Get their attention, get them interested, get them desire your product and lead to the action. Show them exactly what they have to do to buy your product. Marketing is a very broad topic. So I won't be able to talk about all the opportunities in this course. But keep in mind that finding the right target audience is essential. And the better you learn who your client is, the better results you're efforts will bring. 9. Conclusion — 5 steps to a business: So to conclude discourse, here is how to create a start-up business. First, generate product ideas. Second, choose the right idea. Third, do basic research forth. Create the product. Fifth, learn and use marketing for growing your business. These are the steps for creating a successful business, but these are only steps. So if you want to have a successful business, go and put a lot of work into developing the idea, into choosing the right idea. Do the research, create the product. C, who buys your product? Who is willing to pay money, and then go and make it better. And after you have created a great product, learn and use marketing, it is essential for growing your business. Now, it is your time to create a start-up. I hope you found this course valuable. And if you haven't yet, please go Andrei discourse. It helps me a lot and also other students to find this course. I hope you will be very successful with your business. If you haven't checked out my other courses, please go and check them out. There are some very valuable courses that you could use for your business. Thanks again for watching this course. And I hope I will see you in the next course.