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LETS GET DOWN TO BUSINESS.

Question :
Kia ora! I am wanting some advice on next steps to take for my new project. I have a product idea however i do have some current barriers i need to face. The product idea is targeting the baby industry and is a product for after birth care, is not tech based, the business is going to be a social enterprise, we are environmentally friendly… this information may help in answering the questions below:1. I need to make more connections as well as build up a team for this project however don’t know where to start or what to look for. 2. There is so much fundamental things i need to do for example market validation, business model, business plan, financial forecasts, strategies… what is the best way to tackle these as it is very overwhelming? 3. Funding… I’ve applied for $4,000 of funding which is in process however this is no way near enough funding we need to do both research and development as well as take to market with marketing etc… where should i be looking?

Question submitted 08/05/20 @ 06:04am
Industry: Start-ups
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  • Kia ora,

    Great question and there are many different ways to get started with a new project! I’ll answer how I like to kick things off, and hopefully some other viewpoints will be offered as well.

    When beginning a new project, one of the most important things (for me) is to build momentum based on success. This is useful for building a team, fostering relevant relationships, and looking for funding / investment. I always want momentum in two key areas:
    – Usage (engagement with the the groups/customers you are trying to help)
    – Product (updates in relation to the product/service you are creating)

    ‘Usage’ momentum at these early stages can be things as simple as people saying they want your assistance with after birth care when you share your ideas on blogs / facebook groups, or website visits, or newsletter sign-ups.

    ‘Product’ momentum at these early stages can be things like adding popular, relevant topics to a discussion board or writing blog posts that are being read and shared. Or, depending on the type of after birth care you’ll be doing, providing the care and getting feedback from your customers to make the care better and more relevant to them.

    As you start engaging with potential customers, and getting their feedback on your product / business offering, you will be naturally making connections with people who are interested in your business area (and those people may include future employees and/or investors)!

    In saying all of that, in order to get started on the above, you’ll need somewhere to collect your ideas and point interested people to for more information, so make sure you have a website / facebook business page etc.

    Once you have those set up, feel free to drop them in here for feedback on next steps!

    Wow awesome feedback thank you so much!! i totally agree with the momentum.. actually being on that topic i have really dropped off the wagon when it comes to motivation and momentum during covid19 its been quite hard to navigate my way through it all. do you have any tips on how to get back on with the momentum and motivation? Thanks so much

    No worries, glad it was helpful!

    Here’s a useful article from Harvard Business Review on maintaining motivation:
    https://hbr.org/2018/11/how-to-keep-working-when-youre-just-not-feeling-it

    I personally really need a set schedule or routine in place to be productive. Even setting aside one hour a day to do the next task to move your project forward would be useful!

    Here’s a template schedule for parents working from home and struggling to balance all their responsibilities on top of work 🙂

    https://docs.google.com/spreadsheets/d/1kmePCyDTMA5pB9NNqcHswxQFgmBNUmOijeyK8E037Bg/edit#gid=984968753

    Thank you so much this has been awesome!!

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