Simon Jenner
Tuesday, 1 December 2020
Have you been struck with your Big Idea, but not quite sure where to begin? Here is our 5 Step Process to making your Big Idea a reality.
Posted in:
Startups
You’ve just had your Big Idea - the lightbulb above your head went off and the world around you began to shine a little brighter. You’ve got all of the excitement, you’ve heard of no-code and the process of building your MVP, but aren’t quite sure where exactly to beginDon’t fuss, every new founder has stood where you are standing. It might be a cliché, but the age-old saying is true: you need to walk before you can run.At Million Labs, we work with founders just like you on a daily basis. We are well aware of the hesitancies, impatience, and mistakes you might make along the way, and we’ve perfected the process of bringing your big idea to life with the assistance of no-code.Step 1: Validate your Business IdeaYou’ve already had your lightbulb moment; now the first step is to validate your business idea. This step is a process in itself. As we work with clients in this step, we first narrow down the problem they are solving. Is it a major problem, like a broken bone, or a small tickle on the back of someone’s neck? Ideally, you want to solve a major problem that won’t be resolving itself any time soon.Next, we discuss your USP (Unique Selling Point). When dealing with a major problem, someone has likely attempted to create a solution already. We really want to flesh out what is special about your offering and why it caters directly to your target market.In this first step, we will also introduce you to the Lean Startup Method by Eric Ries, sometimes known as the Build-Measure-Learn Methodology. This will help you to refine your business idea quickly and efficiently.Step 2: Build Your MVP with No-CodeMoving into Step 2, you will now take your validated idea and get to work. We introduce our founders to the no-code platform, Bubble. Bubble has simplistic drag-and-drop functionalities, turning you into a citizen developer in no time, with very small financial investment in comparison to traditional coding options.Throughout this step, we show you how to utilise Bubble for creating responsive web and mobile applications to build your MVP, create workflows, work with data types of APIs (Application Programming Interfaces), monetise your application, and additional advanced conditions, states, and tracks of the trade.Step 3: Test Your MVPStep 3 brings the Lean Startup Method of Build-Measure-Learn back into play. Now that you have built your MVP app, it is time to measure.The best audience for you to test amongst is early adopters in your target market. Sure, you may have friends and family eager to get their hands on your MVP app and tell you how brilliant it is. A strong support system is a great asset, but you must remember that the best, unbiased feedback will come from the individuals who are currently affected by the problem you are solving and will actually be using your product once it has launched.After testing, you’ll learn from your feedback and go back to Bubble to make a new and improved iteration of your MVP. Then, repeat the cycle - test it again, apply what you learnt, over and over until you have an MVP app you are confident will resonate with your target market.Step 4: Win Over CustomersUnfortunately, with such an inundated market, your target market will not just magically convert into customers as soon as your product goes to market.Instead, it is crucial that we teach you how to market an app successfully; marketing your app is just as important as your initial building stages. This process includes defining your customer acquisition funnel and creating landing pages for your app to draw in potential users. Additionally, we will help you to create a bullseye framework for which marketing channels you should prioritise and establish pirate metrics to determine which aspects of your business you’ll want to measure for determining your growth and success. Luckily, you likely already have some dedicated customers among the early adopters from your testing group who are eager and ready to use your final product. The trick here is to find and convince any other potential user to convert into a customer. Step 5: Create your pitchIf you’ve made it this far, you’ve successfully validated your business case, built your MVP and tested it, and determined how you will win over customers. The time has come to create the perfect pitch for investors. This step is likely when you will have the moment of, “Wow, this is really happening.” Though it may be daunting, we take all of our founders through the process, from analysing revenue projections to finding the proper investors for your startup. When writing your pitch, we suggest focusing on your story and what makes your product unique. Investors want to know what they will be earning by choosing to invest, so presenting them with your business model and giving them the opportunity to experience your product is incredibly important as well. Wrap that information up into a 10-minute pitch, walk in with all of the enthusiasm you can muster, and prepare for their questions. You’re bound to receive funding in no time. Our team at MLabs is confident that these steps will set you on a fast-track to success. If you’d like additional help with this process and no-code, sign up for our No-Code Bootcamp. We can’t wait to help you make your Big Idea a reality.
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