By Abdullah Almadani
Not sure what experiment to run? Unclear about your business model? Nervous about leading teams? All these questions were answered by David J Bland, the founder of Precoil a business that helps companies create a repeatable process for rapidly testing new business ideas.
David was an early adopter of the Lean Startup, a book on building business and creating growth. It was a great moment for me to be able to meet and introduce David, as his book is one of my favorites.
David took us through an interactive workshop where we built our own business model canvas and explored the model from different points of view.
The business model canvas is a strategic management and lean startup template for developing new or documenting existing business models. It is a visual chart with elements describing a firm’s or product’s value proposition, infrastructure, customers, and finances.
Building your company is a long journey, but if you spend a good amount of time planning you’ll mitigate a lot of risks that you may face down the road. David gave us the right tools and techniques to make our startup feasible, desirable, and viable. He showed us some the business models that failed epicly, and the reason that customers will always look for the three pillars, not just one.
For any entrepreneur, if you want to build something, you have to know how to measure it and learn from the results on how to improve it. You can’t improve what you can’t measure.