Startups

We all think we have the next big idea! But when it comes to getting that first product out, it’s always best to build a cupcake. Most startups are building wedding cakes instead. We’ve all been there. Products end up bloated with too many features that no one uses. It takes months to deliver, and you still haven’t made a dollar.

So what are some strategies for building an MVP that generates your first paying customer?

1. Think cupcakes

Cut down half of your product features. Think about what your product will be known for. Pick one thing!

2. You can’t be everyone’s cup of tea

This is one of the biggest mistakes startups make. Often I hear, “Everybody can use it!” Really? Everybody?

3. The ideal customer profile with a budget is a win

Who are you building this product for? Do they have a budget? Where do they hang out? You need to have some idea about this, otherwise, you are building blindly.

4. Build with monetization in mind

You’re not running a charity, and you have to cover your server bills at the very least. How will monetization look? There are many models to experiment with, but here are some to check out.

5. Get beta users

These days anyone can build a product, but how can you actually get users? Start by building your audience. This can happen through several channels:

• Newsletter – You actually own this one, so it’s extremely important.
  Social – Always at the mercy of algorithms, but start somewhere.
  Blog – It might sound boring, but it can work if your content sizzles.

6. Get the first reviews

Reach out to your early users and ask them to provide reviews. Reviews are essential proof that your product works.

7. Experiment the hell out of everything

If you think about your idea as an experiment, your mindset shifts. You start getting creative, and the risk feels lower because if it fails, who cares!

If you enjoyed this article, you will love our community of founders and tech leaders.

Founders need founders. A founder once said that. But the reality is that finding your tribe is more challenging than ever. Startup ecosystems are noisy, and you have to find a way to connect with other founders.

Where do you discover the top startup communities? Here are some of the best places to get connected:

10. X

This is one of our favourites because the information is real time. Founders are constantly shipping and putting new products out there.

9. TikTok

Start sharing your own journey on TikTok and soon you will find your community.

8. Accelerators and Incubators

These hubs are heavy on events, so be sure to be selective about which ones make the most sense.

7. Your Local VC

Local VCs sometimes run their own events and these are worth checking out.

6. Conferences

Not all conferences are created equal. You have to discover which ones bring real value to your business.

5. Local Meetups

Local meetups can be discovered through newsletters or sites like Meetup.com.

64. Luma

Luma has a section to browse upcoming events based on your interests. There many local events to check out.

3. Eventbrite

Eventbrite is a great place to discover upcoming startup events. It has become an incredibly useful resource for founders to see up coming networking events.

2. Cansulta

Cansulta has its own community for consultants and business owners. It is one of the top destinations for small business owners looking to connect with the right advisors.

31. FoundersBeta

FoundersBeta has been building its community since the early days. It has grown into a full ecosystem where founders can connect with funding, talent, and more.

Where are you finding your community to build your startup? Let us know your thoughts.