Welcome to ByzzPath – your structured pathway to building a successful and well-organized business. Follow these simple steps to start your journey.
The map is a comprehensive guide for founders, leading them through every stage of company growth – from idea inception to scaling and expansion.
Focus on concisely articulating the business idea by describing the problem, solution, client/customer segments, and high-level revenue streams.
Outline the solutions to be provided by identifying the problems that potential customers/clients are facing
Understand and define the target market, focusing on external aspects such as the client/customer and their environment. Consider who your clients/customers are, as well as the potential revenue streams.
Create a list of statements that highlight the unique benefits of your product or service, effectively connecting your solution to your target market.
“Test” the prepared model by identifying any inconsistencies, challenges, and blocking aspects of implementation. In short, all potential risks should be identified and strategies developed to minimize them.
Create a detailed outline so that the business can start earning money.
Based on the materials developed in the Illustrate Idea phase, create a complete Business Model.
Obtain valuable, independent, and constructive feedback and suggestions for the venture being built.
Agree clear rules of cooperation between founders and co-founders at the very start of the venture.
Develop the Mission and Vision statements as a foundation for strategic planning, goal setting, and ultimately market success.
Identify key functionalities that solve the primary problem of the target customers, which will be offered first.
Ensure the capacity to construct, launch, and deliver a ready solution that meets the MVP specification.
Decide on a technology stack that is both appropriate for the initial product and can be scaled for the entire solution.
Secure funding to create and launch a functioning MVP of the product/service.
Assemble a market-ready MVP ensures readiness for market deployment, meeting customer expectations and validating key features and requirements.
Form a dedicated team responsible for the assembly, validation, and rollout of the product or service, ensuring it meets basic expectations and drives business growth
Assemble an MVP product that is ready for market, meets specifications, is integrated into a cohesive whole, and is verified internally.
Ensure gathering feedback on the product/service to develop a successful start-up.
Choose a name that is distinctive and ensures the company's recognition in the market.
MVP is ready to launch in the public market for customers/clients to buy and use.
Collect data regarding the launched solution e.g. usage and statistics.
Validate and, if necessary, adjust the Business Model based on the functioning MVP and customer outreach strategy.