how to start your business today
DESCRIPTION
9 Steps to starting your business today. Full Webinar here: http://hatchnorfolk.com/business-webinar/TRANSCRIPT
Zack Miller, Founder of Hatch
How To Start Your Business Today
Webinar
9 Things to do before you get your business license.
What To Expect:
Who Am I?
q Founder, Hatch q First Business at 10: Guy and a Rake q Self-Taught Management q Took 2 person company and grew to 11 FTE
and 700% growth, roughly 1.4 mm q Created Start Norfolk q Interim Chief Marketing Officer
What is Hatch?
¨ Accelerator, Seed Fund, Campus ¨ 40+ Portfolio Companies ¨ 1000 Four
Let’s Jump In!
What Needs To Be Fixed?
¨ What are the problems that exist?¨ Search forums, Reddit, Craigslist, etc.
Who Needs It To Be Fixed?
¨ Businesses or Customers?
How Badly Do They Need It Fixed?
¨ Are there data points that show this is a high problem?
¨ Reach out to the people who are sharing their problems, see what they are currently doing to fix and what they are paying to do so.
Can You Fix It?
¨ Do you love the topic enough to work on it?
¨ Do you know enough to create a solution?
How Much Will It Cost You?
¨ Is this a project that is very capital intense to start, or can you develop with self funding?
How Much Are They Willing To Pay You?
¨ For those that are sharing their problems, what are they paying now (if at all) and what would they pay you to create the solution?
¨ Are they willing to pay you now?
How Can You Prototype It?
¨ Create a minimum viable product and get this in the hands of those who are requesting a solution
Who Wants It?
¨ Create a spreadsheet of your target customers.
¨ PDF download available.
Well…
¨ Did they buy it? Pre-Order it? Once you have 5 sold in 3 days, you have it validated.
¨ Do not physically build or automate anything until you have it validated.
NOW…
¨ Go get your legal business stuff.
Ask Hatch Questions
Recap
Zack Miller Founder, Hatch mobile: +1 757-295-8635 twitter: @zackmiller84 linkedIN: www.linkedin.com/in/zackmiller84
Next Steps