New Venture Development

New Venture, what a daring and exciting term. New people, new ideas, innovative learning, how exhilarating.  What is ironic is that the first learning we were to do for the class what how we would fail.

 

Doesn’t bring you down at all ;P

 

As a preparation for the class we read a story about a struggling artist named Azza. This was from a perspective from a young design artitst creating jewelry. When a professor give you a story about a “struggling artist” you expect oh this woman came from nothing and had no support and still was able to over come any odds. But this time was different. Was the woman educated, Yes. Was she supported by family, absolutely. However the questions that we as a class are larning is what Azza prepared to fail, Yes. WHY? Because she knew failure wasn’t the end. It was a new beginning. I was mesmorized by the fact we were reading to someone who I personally related to and to understand techniques of starting your own distribution channels in a new industry. It is an exciting roller coaster becoming an entrepreneur.

 

In class we went into great length os detail about what can make you fail and the reasons a lean start up can motivate you. My favorite picture that actually is pretty simple to understand is this:

You learn from your customers. Your idea might not always be the one that sells you millions. We learned this during our first week introduction workshop. I personally was making an app for intake of water and I brought the idea to the public by asking them questions. There advice was amazing. I came up with new improvement to minimum viable product.

 

 

The lean start up sounds to be a never ending process because there is always something to improve on. Yes, when you have something that can become constant and “successful” then the goal of the start up is achieved, but even billion dollar business are using techniques such as pivoting new ideas and following a business model. We had learned this from watching the Mcdonalds film, The Founder, from 2016. All business start small and grow.

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