Last week I joined So Energy - a provider of great value renewable energy to help you heat your home. This year, we plan to expand into new markets and become home energy service providers - I am fortunate to be looking after this space.
For me, one of the best people at explaining the core steps needed to map out and test a business model is Ash Maura, creator of the “one page business plan” aka the Lean Canvas. I still think his book Running Lean is the next best thing to read if you’re been introduced to this space by book, the Lean Startup - its a bit more practical and has clearer steps to follow.
Startups are a risky business, and our real job is to systematically de-risk our startups over time
In his book he outlines 3 main steps:
1. Document your Plan A
2. Identify the riskiest parts of your plan (it’s different depending on what stage the startup is in)
3. Systematically test your plan
When I created FlowCraft it gave me a way of brainstorming possible business models and prioritising where to start. My MVP was the landing page and it gave me great feedback on what music managers thought of the proposition.
As I continue to build on this, and create content, I will test out the business model. Just so you know, the newsletter isn't the product, it's just one part of the whole model, but for me it's perfect for having a view of the whole picture and some objectivity.