Entrepreneurs are a crazy bunch of people full of ideas and excitement. We talked about the 7 Characteristics of Successful Entrepreneurs as well as the 50 Things Every Startup Should Know. Now, those either assume a) you’re a successful entrepreneur or b) you already have a startup. Well, a number of first-time entrepreneurs have an idea but don’t have a startup, yet.
Here are the first five steps for an entrepreneur with an idea:
- Get a co-founder – yes, you can do it on your own but it’s much more fun and you’re more likely to be successful with a co-founder
- Sign a customer – a customer should come before a product so that you don’t build the app in a vacuum
- Start building a product with the customer’s feedback – with the customer in place build a beta version in a collaborative process
- Sign 10 more customers – customers are oxygen for a product, but don’t let a single customer dominate the conversation
- Enhance the product based on your vision and customer feedback – rinse and repeat the previous two steps signing customers and enhancing the product indefinitely
This is obviously a simplified first five steps for an entrepreneur with an idea but it gets the point across — with a co-founder in place, start talking to customers and a build a product that adds value.
What else? What steps would you add or change for an entrepreneur with an idea?