WEEK 3 - MBA 6101- ASCENDING YOUR START-UP

Last week, we learned the importance of seeing what your Minimal Viable Product (MVP) is and why it is important. We also saw how you will pilot your product by asking relevant questions. This week, we will continue our process of ascending your start-up by asking two additional questions: First, what product category are you REALLY in? You need to understand your product and your industry to know how well how your product fits in the market, customer segmentation, competitive landscape, distribution channels, market trends, etc.

Second, who will be by your side, and who will leave? At this moment, you must make important decisions. If you have friends or family members in your start-up, ask yourself: are they really knowledgeable or they are there just because I love them? Make the decision to keep the best and hire the best people you can to fit the positions at your company. Once that happens, think that if they succeed in their roles, your start-up will succeed as well. Then, think about how you will empower them to succeed.

References

Yu, H. (2021). Ascend your Start-up. Success Publishing.