Fast mistakes for faster results — while spending less
Turning a good idea into something practical and profitable…That is every entrepreneur’s goal. After all, it’s not easy to go from dream to reality. However, to move from plan to action, attention and appropriate methods are necessary. A solution for testing a project and its risks and assessing potential is creation of a prototype. Unlike the huge drawings of inventors like Leonardo da Vinci, prototyping need not be overly detailed. The solution lies in a preliminary model of the idea and the possibility of developing it along the way.
A prototype allows the business model to emerge. In many cases, lack of experimentation can turn a good design into a failure.
Research and information on the market in question is extremely important, and only with a prototype on hand is it possible to understand a product’s strengths and weaknesses. Actually, mistakes should emerge. Understanding if the business plan works (and if something needs tweaking) is critical to validate the idea –or to determine if an idea should be discarded early on. In this way, mistakes are essential for avoiding significant financial losses and damage to brand credibility.
The prototype is also an initial sales tool for end customers, and also provides investors with a more accurate understanding of what you intend to accomplish. Besides offering a perspective, the prototype generates feedback. A positive or negative dialogue begins here, and lessons are learned in this test phase. Start-up jargon even has a name for this: “Get out of the f* building”. In these conversations, the well-structured prototype becomes an MVP (Minimum Viable Product). That is, a product that is simple, but one that everyone wants.
A prototype allows the business model to emerge. Similarly, it’s needed to produce that product or service, to handle technical and logistical challenges for its distribution, cost structure and, most importantly, to understand how a consumer responds to the entire proposal. In many cases, lack of experimentation can turn a good design into a failure.
At Maker Brands, we believe that action is essential for solutions to emerge and to have full potential for change during the process. We find solutions in mistakes, which help to find the right path. So, think seriously about making fast mistakes — to save money, and most importantly, to save time.
By: Alexandre Veiga
