Delightful Business development workflow

• Prototype (ideally, high fidelity). Just the core concept.

  • test prototype with focus groups / potential users. Refine prototype based on feedback, and seek their feedback again, until you reach a delightful place.
  • focus group size should not be less than 30 people.

• MVP. Actual product that people can start using. Focused on just the most important features that they’ll need. None of the non-essentials. The most important user flow(s).

  • push this to the market, and get their response. Refine based on the market’s response.
  • to test product-market fit.
  • test user size should not be less than 30 people.

• proof of concept (to test that the business model works, and the tech can do what its supposed to, at scale)

• refine & scale up

• identify the risk factors that could negatively impact business, and diversify the business / build in buffers and safety nets that will keep the business afloat if these risk factors ever become reality.

  • store up sufficient levels of cash. as much as possible, don't let it impact growth.
  • offer alternative products/services that align with the business, but can generate cash if these risk factors become real.