“Back to the start” I thought the last few days, even if I enjoy working on my luminaire designs! I remembered that I am breaking new ground with RAY makes light.
And that’s why I organized some help – in the form of two extremely well thought-out books: Business Model Generation & Testing Business Ideas by Alex Osterwald.
These books help me to structure my thoughts around my startup, to put it in an economic context and to increase the level of predictability step by step methodically (starting from almost 0%).
I have to develop answers to three questions:
1) Desirability
Will my products generate benefits to my customers? Are there sufficient people who will buy my products?
2) Feasibility
Can I manufacture or have my products manufactured in the shape and quality expected by my future customers and me?
Do I have the know-how, ressources and business partners to do so?
3) Viability
Will sales exceed costs? Can I make a living from this and create a win-win situation for everyone?
It’s not that I haven’t had any thoughts in this direction before. But the book Testing Business Ideas in particular gives me help and tools to convert my personal, subjective and perhaps not totally wrong assumptions and expectations about my company into objective parameters.