How startups are crafted by a Studio? In this article, you'll find an overview of the best practices to build a startup from scratch.
How does the startups’ creation actually work? How startups are creafted by a Studio? You may have asked yourself this question dozens of times since you started learning about Startup Studio.
In this article, we will go deeper into the process of creating a startup, step by step. But before starting, here you can find the links to previous articles published on our blog about the Startup Studio Model.
- The Startup Studios advent in Italy
- History of Startup Studios Model: a 30-years journey
- Types of Startup Studios
- What’s the difference between Accelerators, Incubators, and Startup Studios?
- Startup Studio approach to market
- The Startup Studio Benefits
Tobias Gutmann’s scientific research to understand how startups are crafted by a Studio
Building a new startup is not an easy job, also for a Startup Studio. A venture builder has standardized processes, scientific methods, and KPIs to be considered to create something that works.
Few people scientifically analyzed the process, among these brave people there’s Tobias Gutmann. He identified a "scientific method" to create a Startup from scratch.
You can find the full text here: "Organizational best practices of company builders - a qualitative study".
Gutmann divided the process into 7 steps. Let's get through each of them.
7 steps for Studios to build a startup
Here you'll find the steps to understand how startups are crafted by a Studio. Let's go!
1) Hunting for problems
When a Startup Studio creates a Startup, the first step is looking for problems, but how?
The Studio explores a specific market, it searches for real problems to understand the market needs and then builds something that really solves them.
2) Quality Check
The newborn idea goes through a quality check to make it "market-proof" and worthy to be developed. Which are the requirements to be satisfied?
- Proximity - is the idea aligned with the Studio’s strategy?
- Feasibility - can the idea be implemented using the Studio’s technology, resources, knowledge, and market access?
- Significance - does it solve a real problem for a potential customer? is there a solution on the market?
- Potential - is the market large enough?
Once these requirements have been met, your idea can move to step three.
3) Market Analysis
If the idea successfully gets through the quality check, a second in-depth analysis begins. The market in which the venture will operate (clients, suppliers, competitors, leaders, etc.) is segmented and analyzed to get a deep understanding of the market.
Boom! It's time to perform a crash test using a data-driven approach: the scope is being sure that the business idea can survive in the market. If it passes this test, we move on to recruiting the Startup Founding Team.
5) Customers Crash-test
After surviving the first crash test, it's time for a second test on the Startup's potential customers. The aim is to understand the target audience's interest in the product/service. Feedbacks are collected for further improvements.
6) Let’s beging!
After all the tests, corrections, revisions, and approvals, it's time for the startup to start and take its first steps in the market. Once the product and market have been defined, the Studio creates the company, starts fundraising, and enhances the sales channels to start the scale-up.
7) To the moon!
The last step, the growth phase, aims to get the startup to independence. The team grows as new resources are hired as well.
Measurements and evaluations are constantly performed to keep improving the product.
The Startup Studio uses an action-research model, it constantly modifies what is not working: it continuously monitors Startup processes through data analysis and customers’ feedback.
Now you know how startups are crafted by a Startup Studio!
We know what you're wondering...
What's the next article? Here we go.
In this article, you have just an overview. In the next one, we will dive into one of the most important processes to create a successful startup from scratch, the validation process.
Mamazen is in a never ending evolution. We have been the first to introduce the Startup Studio model in Italy so, now we want to do something more. Our aim is to start a new era in the startup world. That's why we have combined the Startup Studio model with the Dual Entity Model, a model designed to reduce the risk for investors dramatically.
That's why we have combined the Startup Studio model with the Dual Entity Model, a model designed to reduce the risk of us as investors dramatically.
Do you want to hear more?