INNOVATION IN BUSINESS ENTREPRENEURSHIP MANUAL

MANUAL INNOVACIÓN EN EL EMPRENDIMIENTO EMPRESARIAL

Thus the four phases would be as follows: 1. Customer discovery: • Adjustment problem solution

• Minimum viable product proposal • Proposed "funnel" conversion funnel 2. Customer validation • Product-market fit • Business model • Marketing and sales plan 3. These first two parts form in themselves a test cycle after which the pivots are carried out. 4. Customer creation • Execution of the scalable model Company building • Scaling up (growing) the organisation • Scaling up operations Everything mentioned for startups, which has to do with testing, mistakes, changes, is limited to the first two cycles. This is where testing makes sense, as these are discovery phases, where you have to understand the customers, adjust the product, see how it is positioned in the market, see how to reach the customers, make a plan for it and obtain metrics that allow you to evaluate it. And what is fundamental, discovering and validating the business model, which should also be scalable Once all these steps have been taken, the objectives of creating a business idea have been met, from there onwards a more entrepreneurial part, of executing that model and putting it into practice, would be considered to begin Much of an entrepreneur's fear of getting it wrong, of failing customers, of giving a bad brand image, as well as the need for high investment and the like make sense, but in this consolidation phase. Understanding that the first two phases have different objectives (basically to obtain validated learning) but that they are fundamental to building the next two phases is fundamental to the success of a project. In this process it is essential to have the Minimum Viable Product (MVP).

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European Open Business School