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Venture Building Forum
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The Venture Builder
The venture builder
23Problem-Solution Fit
Defining the problem to solve, and how best to solve it
23Product-Market Fit
Validating that the market wants your product, right pricing and scalability
13IP Management
Share and discuss strategy and know-how for management of intangible assets, and IP
2Business Storytelling
Persuade and influence through storytelling
5Fund Raising
Discuss fund raising tips
2Startups Spotlight
Share about your venture, your progress and your ask
2Entrepreneurs Are Innovators
Showcases of business strategies that differentiate an idea from the incumbent, enhance competitiveness and scalability
1News
News on startups, innovation, entrepreneurship
1General
General Discussion that doesn't fit in the categories
3Singapore Grants, Assistance
Gov grants, assistance in Singapore
2
New Posts
- Problem-Solution FitThere are five types of customers: the innovators, early adopters, early majority, late majority, and laggards. Early adopters are those with a pressing problem that your solution can address. But at the beginning, you'll need lots of experimentation. Not all of them allow you the leeway for trial-and-error. And if you build your pool of early adopters with an enduring, impactful vision, they stick with you longer, and this is the kind of early adopter you want. How to Create Change | Simon Sinek Early Adopters and Their Pressing Problem According to Sinek, the Innovators and Early Adopters are fundamentally different from the majority. They are comfortable making intuitive, gut-based decisions. Their "pressing problem" isn't just a functional one; it's a desire to be part of something new that aligns with their own beliefs and worldview. They don't buy what you do; they buy why you do it. They want to be the first to have a product that says something about who they are. The Need for Leeway and Experimentation This is precisely why starting with 'Why' is so effective. A new product or service often requires significant experimentation and may not be perfect at the start. Sinek points out that the majority of customers (the Early and Late Majority) are more pragmatic and won't buy a product that is buggy or unproven. However, the Early Adopters are different. Because they are buying into your vision and your 'Why', they are far more willing to tolerate imperfections. They will queue for hours for an iPhone, even if it has flaws, because it's a statement of their identity. They bought early flat-screen TVs that were expensive and had technical issues because they believed in the future that technology represented. They grant you the leeway for trial-and-error because their purchase is an act of belief in your cause. Building a Loyal Following with an Enduring Vision Sinek argues that if you want to attract the kind of early adopter who will stick with you, you cannot simply market the features of your product (the 'What'). You must build your pool of early adopters by clearly communicating an enduring, impactful vision—your 'Why'. When you articulate your purpose, you attract customers who share your beliefs. This creates a bond of loyalty that transcends the product itself. These early adopters become evangelists. Their visible support and enthusiasm create the social proof that the more cautious Early Majority needs to feel safe trying your product. By securing this loyal base through your vision, you can successfully "cross the chasm" and achieve lasting success.Like
- The Venture BuilderHow do we set out to define our purpose in life? 1. What you LOVE 2. What you are GOOD AT 3. What you get PAID FOR 4. What the world NEEDS To understand what the world needs, we have to define who our target customers will be, and what problem they need solving. Find Your Purpose - Ikigai Breakdown (Archive Series)Like
- Problem-Solution FitThis is a tool that simplifies the design of a business with 9 key considerations: Desirability 1. Target customer segment 2. The value proposition to the segment 3. Channels more customers 4. Relationships to build to maintain revenue stream Feasibility 1. Key scope of activity within the business 2. Key resources that support the activities 3. Key partnerships that enable and reduce cthe ost of business Financial viability 1. Total cost to operate (annually) 2. Total revenue generated (annually)Like
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