How to create a successful startup! A program for creating a successful startup in 3 steps:
TASK1: Find a Business Analyst (either passionate about or having mutual interest in [insert:TOPIC IDEA]),
TASK2: Develop a relevant (‘the right’) learning validation technique.
TASK3: If you are a BA, go back to TASK1.
Long story short, if interested in a startup (as defined by Eric Ries), “A start-up is a human institution that operates under conditions of extreme uncertainty.
Save yourself time (and money) or reduce risk by developing your own BA Techniques AND find one who knows about startups who is willing to help you. You must find the right BA Techniques i.e. see Justin Wilcox Customer Develop Labs to validate your assumptions. This person can also be a ‘sounding board’ while also learning about your customer along-side you, much like good legal counsel or financier (who will only have one perspective on the system.)
One of the hardest parts of Steve Blanks, ‘Get Out of the Building’ and the ‘Techniques’ e-luded to in The Lean Startup are the real work or BA Techniques (which primarily consist of interviews providing qualitative and quantitative data or feedback. Justin is mastering some of the coolest new tools available. We need to ‘test’ real-world cases and provide feedback on their performance.
You need the ‘buy-in” of others for your idea, so it’s necessary for you to BE a BA your-self, but you must also be willing to find someone else with a BA skill-set (or willingness to learn) about your ‘business idea’ along with you.
I became a BA based on my natural curiosity for understanding (learning) why things are the way they are. I don’t think I would have ever become an entrepreneur based solely on my interest in Business Analysis or knowledge and/or experience of being a Business Analyst. But, being interested in entrepreneurship opens Pandora’s box of opportunity. You’re no longer interested in a role, but more likely interested in the pursuit of innovation or creating value and that is ‘priceless.’
So, while these ‘roles’ intersect and relate to one another, they are also mutually exclusive (meaning they most likely exist exclusive of one another unless activated upon by an ‘idea of interest’ or ‘topic of interest’ for a ‘moment of time.’
Theory or Assumption: I believe every successful entrepreneur must have a good foundation BA skill-set or must find someone who has this skill-set. Another way put, the “functional skill set” possessed by any good BA must be present in a successful entrepreneur (to become a successful Startup.)
I added the term successful and good, because who wants to be an unsuccessful entrepreneur or poor BA? Who would want to just aimlessly waste their time, energy and treasure trying to innovate as an entrepreneur or trying to create bad products and services that no body wants or needs. These services don’t increase value or provide a valuable return for anyone.
The highest return is found in your own personal ‘pursuit of happiness.’ This logic was confirmed for me recently in Bill Aulet’s book entitled, ‘Disciplined Entrepreneurship.’
Everyone knows you must get a return on your investment to sustain your idea, but how? Through Learning. It can be quick if you possess the necessary skill set, but more likely, you’ll need to find others with expertise or experience or who have similar interest to your own to increase the probabilities for success and reduce the learning time needed on your mission or quest to create a sustainable (product through process) that someone else is willing to pay you for.
A good entrepreneur, requires the skill set of a Business Analyst which can be provided through IIBA and/or experienced through a “disciplined entrepreneurial approach to creating a startup.”
Finally, all great entrepreneurs should have a functional BA skill set (developed within a particular market or vertical) through experience. In my experience with startup accelerators and classes, the BA role is delivered even though they don’t know they are fulfilling this role. As mentioned, this role is crucial for large enterprise organizations to continuously innovate. They are not described as important or crucial to those with startup aspirations, because
- they want you to keep coming back to them for future resources or
- they want to manage the ‘success’ for when you turn the corner or
- they don’t know
- are of the above..
That is the disconnect. [LEARN MORE, EXPLAIN MORE HERE]
We’re going to explore this topic further, but my own personal belief is there is a divide between the real-world startup eco-systems and the University-driven startup accelerators. Higher-Ed institutions usually fall behind the real industry by providing learning examples from real-life industry, these case-studies and examples are ‘behind the curve’ of true innovation.
Since Startups and Startup ecosystems are innovating in the real-world, higher-ed institutions must be behind the learning curve-unless of course there is a partnership with real-life industry. For lack of a better term, “those who can’t (or won’t) do, teach.” Those who are truly innovating are doing it in the real world where ‘risk’ isn’t mitigated by safety nets.
*we believe you should also be passionate about your ‘industry of interest’ to succeed, regardless of industry or stage of business, but this isn’t required. You really need to be passionate about the pursuit of ‘real-world’ ongoing learning or ‘entrepreneurship.’
Frequently used words
analyst ba become business create creating don’t entrepreneur experience find good idea industry interest interest interested learning likely more must my need passionate return role set skill skill-set someone startup successful through want willing
- Entrepreneurship Education Is Hot. Too Many Get It Wrong (educationnews.com)
- ITEN Launches Entrepreneur in Residence Program for St. Louis Startups (prweb.com)
- 10 Keys to Team Engagement and Entrepreneur Success (bizsugar.com)
- Entrepreneurship Education Is Hot. Too Many Get It Wrong (businessweek.com)
- Inside The Mind Of A Startup Entrepreneur [Infographic] (nibletz.com)
- The three main principles of building a startup (holykaw.alltop.com)
- The Basics of the Business Analyst Career Road Map (news.dice.com)
- 6 High-Priority Startup Tasks for Entrepreneurs (intuit.com)