Wednesday, 23 March 2016 11:44

Introducing ICED - The Cool Way To Start A Business

Everybody has great ideas, it's what you do with those ideas that counts. ICED has been designed to help you get started and to focus on the essential parts of starting a business from the get-go. Check it out! 

 

Welcome to ICED - The cool way to get started! 

What does ICED stand for? 

Idea, Customer, Evolution and Development. ICED is a process you follow when starting a business. Jumping straight into development of your idea has been proven to be ineffective and wasteful of precious time. ICED will ensure you get talking to customers at the very early stages. This approach will give you a huge advantage when you start developing your solution as you will know exactly what the customers want.
The ICED process is made up of three canvases that are to be followed logically to ensure no steps are missed.
ICED has been adapted from the 'Lean Canvas', itself developed from the 'Business Model Canvas' (the grey corners throughout the ICED canvasses refer to elements of the Lean Canvas).
ICED takes into account the time frame of Mashup, the relative inexperience of participants with the concepts of Lean Canvas, Customer Discovery and Customer Validation, and incorporates the objective of building a prototype, to be presented alongside a customer profile and revenue model in a final pitch.

Idea-Customer Stage

The Idea/Customer canvas is where you enter your current idea as it stands. Fill out exactly what your idea is at the moment, detailing what problems you intend to solve, why the problems occur and who you think the people experiencing these problems are. This canvas requires very little effort, just brain dump details about your business idea. 

 

Evolve Stage

Before you fill out this canvas, you must do some research. Talking to customers is a great way to find out what to build. Before starting this canvas, create some surveys, interview questions and get out talking to potential customers! Check out his post to learn how to build a survey - - click here

Develop/Design Stage

Now that you have talked to customers, researched the market and understand who your customer segments are and what value you will be creating, you can start developing your solution. This canvas helps you detail aspects of your solution. It's a great resource to return to often during the build stage. 

 

Top tips

1. Always use post-it notes to fill out the canvas as things WILL change throughout the startup process.

2. Do as much research as possible before evolving. This is an essential part of the entire process.

3. Don't spend too long in development as you will have tendencies to over-build. Launch a prototype quickly and get some feedback. 

 

Got you thinking? 

The days of jumping into development have changed! You can be clever and talk directly to customers to see what they want built and then quickly build a first iteration for further feedback. This approach is behind the success of many startups.  If you need any help with canvas get in touch.

What next?

The ICED canvas will be in full swing with over 60 students putting it into practice on the 2nd/3rd of April 2016. If you're a participant, get familiar with the canvas to get a head-start and if you're interested in seeing this process in action, call in and say hello at Mashup

 

Thanks for reading, 

Dara @ Venture Centre

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