TL; DR
It may take "four steps to epiphany." But healthy ventures take 12, as far as I can tell.
Here's my current, absolutely-pared-down, utter-minimum list of things you'll need to succeed with meaningful innovation.
Would it be nice to have more? Yes. But if you truly must prioritize, I'd recommend starting here.
Why this list?
Yes, it's nice if we can pull in all our favorite tools for creating new startups or internal ventures.
But many teams don't have that luxury–and it IS a luxury:
They may not have years of prior experience and tons of time to find and read books and blogs, hobnob at conferences, think big thoughts, etc.
And, frankly, some of the additions have added so much drag over time that the "lean" startup isn't really that lean anymore. It's a bit bloated. For all the value that a tool adds, it also adds complexity and displaces something else that we would have done with the time.
In other words, it's probably healthy to step back from all our jargon and methods. We can always add stuff back. But meanwhile, let's start from scratch, at least as an exercise, shall we?
The list
I've debated back and forth on what is a true must-have in my book. Here is where I've ended up. (But it's an inherent work in progress, WIP. Expect it to change. This version is as of November 2024.)
My current list of must-haves for healthy ventures:
02. Get smart (head- & heart-smart) on your space —> long list of questions
03. Good-simple accounting & bookkeeping —> ownership, taxes, runway
04. Healthy team comm’s & interaction habits
05. Need finding —> ideal customer profile
06. Value proposition —> “heck yeah” case studies
07. Non-BS way to win as business (vs. good alternatives & inertia)
08. Cross-functional assumption/ risk tracking
09. Lightest solution anyone will buy (MVP/ MMP/ MLP), tested live
10. [Whatever it takes to create & deliver your solution right]
11. User behavior observation capability
12. Robust business case/ pitch
After that, it’s “just” a matter of (ha!) testing/ learning/ iterating and running a business.
How to Do This
- Create your own list. Mine may not make sense for you. Challenge mine!
- Collect the utter minimum of documents and how-to guides for each of them.
- See how much lighter and faster your work might be if you cut out all the stuff that has piled on over time.
Oh, and let me know your feedback. I'd love to make this better, based on your experience! 😄 I'm at info@customlightning.com.
