We know starting a new venture, product, or service can be an exciting journey. However, launching a startup requires extensive preparation, planning, and execution. At Strategic Collisions, we have identified a startup launching process that can be divided into three main phases: Ideate, Build, and Promote. In this blog post, we will delve into the three phases and outline the key objectives and activities required for success.
Phase 1: Ideate
The ideate phase is the starting point of any startup journey. Ideation is the process of generating ideas and defining the problem your product or service solves. During this phase, entrepreneurs should aim to develop a clear and well-defined concept of what their startup will do and who it will serve.
Objectives:
Identify the target market and define customer personas
Develop a clear and concise value proposition
Determine the unique selling proposition (USP) of the product or service
Conduct market and customer research to validate the concept and identify potential competitors
Activities:
Brainstorming sessions to generate ideas
Conducting market research and analyzing customer needs
Developing a business model
Creating a pitch deck to present to potential investors
Examples:
Airbnb - During the ideate phase, the founders of Airbnb identified that there was a lack of affordable accommodation during a conference in San Francisco. They ideated a platform that allowed people to rent out their extra space to conference attendees, thereby solving the problem of accommodation scarcity.
Uber - Uber was ideated as a solution to the problem of finding and hailing a taxi, particularly during peak hours or in less populated areas.
Slack - The ideate phase for Slack involved identifying the communication inefficiencies within startup team and developed into a platform that simplified team communication and collaboration.
Phase 2: Build
The build phase is where entrepreneurs turn their ideas into a reality. During this phase, startups focus on building the product or service, developing the necessary infrastructure, and establishing the operational procedures required to run the business.
Objectives:
Build a prototype/minimum viable product (MVP) to test the concept
Create the necessary infrastructure to support this preliminary product or service
Establish partnerships with suppliers, distributors, and other stakeholders
Recruit and onboard team members
Activities:
Developing the product or service
Establishing partnerships and collaborations
Building the necessary infrastructure and processes
Recruiting and onboarding team members
Examples:
Dropbox - Dropbox started with building an MVP of a file hosting and sharing platform that could be used across different devices. They used the MVP to validate their concept and refine their product before launching a full-scale version.
Facebook - During the build phase, Facebook focused on building a robust and scalable infrastructure to support their platform's rapid growth. They also established partnerships with advertisers and third-party developers to expand their offerings.
Tesla - Tesla focused on building electric cars during the build phase, while also developing the necessary charging infrastructure and battery technology to support their products.
Phase 3: Promote
The promote phase is when startups focus on marketing their product or service and generating buzz around their brand. During this phase, entrepreneurs should aim to raise awareness about their startup, build a loyal customer base, and generate revenue.
Objectives:
Generate brand awareness and build a loyal customer base
Increase visibility and reach through various marketing channels
Acquire paying customers and generate revenue
Establish the startup as a thought leader in their industry
Activities:
Developing a marketing strategy
Executing marketing campaigns across various channels
Building an online presence through social media and other platforms
Participating in industry events and conferences
Example:
Apple - Apple's product launches are a prime example of a successful promotion phase. Apple generates hype around their products through a combination of media coverage, social media campaigns, and product teasers
Get Started!
The most important part of launching a new venture is to get started. Then, Keep going!
