Food startups are on the rise in the UK
By 2014 there were more than 2500 accelerators globally, a number that continues to grow. High demand, especially from start ups, is the main reason for the massive growth currently being experienced. The acceleration model builds on the previously used incubation model. In the 1990s startups tended to rent space in coworking places and work together under the lose supervision of a more experienced entrepreneur. The model was helpful, since it created a supportive environment for the startup. Problems became evident a few years later when entrepreneurs realised that such a model was too static(as opposed to dynamic) and did not accelerate growth. Few of these companies had a successful exit within an acceptable time-framework (5-7 years). Despite the advantages of the accelerator model, there are currently few such institutions in the UK, focussing on food startups. For example, we […]
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The (mis/ab)use of suicidal startups
The recent suicide of Robin Williams may have been devastating for his family, but it also brought to the forefront important questions on the handling of depression. Some ignorant and potentially harmful people claimed that Robin Williams was a coward or that he could easily have faced the situation or that he was weak. Such statements can only damage the morale of millions of people who suffer from the debilitating disease. It could also mislead the rest of us into thinking that depression is just a state of mind and not an illness that causes immense suffering. On the other hand, his suicide became a great opportunity for mental health organisations to push forward their agenda and to ask for more support from the NHS. Although GPs tend to treat immediately and accurately physical ailments, they tend to take their […]
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What is the main target of a startup?
All in all, if you aspire to become a successful startup, you should be aiming at product-market fit. This is the point that will differentiate you from all other startups out there. This is the turning point that will be the start of your new career as a successful businessman. Just to give you an idea of what this product-market fit is, I created this short video. Watch it, and let me know, if you have any questions. I will be more than happy to answer them. Find the best Acceleration Programs for UK Startups here
Read MoreHow to use Google to educate yourself in business
I have always been a firm supporter of free education for all, as a way to democratise societies and create equal opportunities. Consequently, I went through several years of schooling until I got my PhD in economic history. When I have learned all I needed to know, I got a job as a lecturer at the University. Several degrees and almost two decades in academia later, I decided to leave. I will not go into details about how difficult this step was or how unsupportive were most of my friends and family. Suffice to say, it took several years to gather my strength and defy social norms. Once outside the educational system, I had to choices: a) Get another degree; something relevant to my new career, b) Use Google to find out all the information I needed. As an academic, […]
Read MoreA short introduction to lean methodology
I have been asked repeatedly what is the Lean Startup method and why is it relevant to established businesses as well as startups. So, I thought I should write a longer post for the sake of the curious and the ignorant. The following description are a few thoughts on lean as I understand it and practice it. The Lean Startup method seems to be the quickest and most effective way to build a new business, or to succeed in turning around a more established business. It applies to all types of organisations (businesses, governments, NGOs, other) wishing to commence a new venture, or find new markets, or succeed in a new field. In addition, it has been designed for extreme economic conditions, such as the one we face for the past few years (since 2008), and it seems to dramatically […]
Read MoreAn emotional revision of Ash Maurya’s Lean Canvas
For the last couple of years I have been using extensively Ash Maurya’s Lean Canvas for early startups. I find it more suitable for these startups who already have an idea but are missing many pieces of the puzzle that we call Business Model. The Lean Canvas is agile, simple (but not simplistic), informative and at the same time easy to understand. As soon as I saw it, I realised that it is the most essential tool I can use. I bring it out in my very first meeting with the startup and ask him/ her to fill it up to the best of his/ her abilities. The results are shaking the startups to their core. They realise that they have to face issues they have not encountered before. Most of them have been focusing on the customers, although they […]
Read MoreBipolar Westerners: The Booms and Busts of a Capitalist Economy and their Effects on Businesses
The reason I am writing this post is the images I watched on tv from the first day of the Christmas sales. It looks like consumers in the US, UK and Australia went crazy after they got a good portion of consumerism. They barged into the shops screaming, running and grabbing after a long night of waiting in the cold. My first reaction was, Are You Serious? Which person in his right mind would put up with the cold, the waiting, the noise and the insanity in order to buy a few pairs of shoes or a couple of discounted carpets? And then it hit me! The behaviour was not triggered by the sales but by the widespread euphoria in the markets. The stock market is rising in unprecedented levels, the consumer indexes are also reaching a peak, unemployment is […]
Read MoreLean Startups in Lean Economies
Lean methodology has been well defined in an attempt to differentiate itself from other methods that pre-existed. It has its roots in Lean Manufacturing, Agile methods, and, last but not least, Bootstrapping. As you would expect, there is nothing new under the sun. All of these methodologies share common ground with Lean Startup but there also enjoy distinct differences. For example, Agile remains a good basic method for software developers but it cannot be used to develop other businesses. Lean methodology fills the gap with the application of customer development, idea generation, design thinking and other tools. Similarly, Lean Manufacturing is used widely in the manufacturing sector but it can be applied elsewhere with great difficulty, as its basic principles are self-limiting. In some cases, lean methodology is confused with Bootstrapping. I would like to acknowledge that the frugality […]
Read More12 outrageous myths about lean startups
Lean methodology is so new that is not always understood properly. The misunderstanding and misinterpretations can be profound and damaging for the movement. So, I decided to compile a list with those myths that keep circulating among the groups of people who have not studied the method adequately. 1. It applies only to tech businesses. Many people believe that lean methodology is applicable only to tech startups. In truth, it has been advertised by founders of tech businesses after the 2001 dot com bust. However, tech startups are not the only ones who can profit. Lean methodology has been proven to be is applicable to all kind of ventures that have a scalable and repeatable scope. 2. Lean methodology is used only in startups. This is one of the most widely spread myths. In fact, every established company that attempts […]
Read MoreHow minimal should a Minimum Viable Product be?
A lot has been written on the use and effectiveness of the Minimum Viable Product in business. For those who have not heard the term before, this is the lean version of an ‘early prototype’. This ‘prototype’ may be applied in all kind of businesses, outside strict engineering. So, the MVP is build in order to validate a significant aspect of the business model; the aspect that is connected to the product itself. Does the product solve the problem? Are the customers ready to buy it? How much should we be charging? An MVP is always a good way to get answers to these questions. Accepted forms of MVP are: A simple landing page with a Unique Value Proposition A landing page with a Unique Value Proposition and a short video The front end of a website (like an e-shop […]
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