Discover with Skywalk
The first step to starting any business is to find a problem worth pursuing. Well… it isn’t necessarily that simple.
The trick to finding a good problem is making sure that others experience the same problem and would pay to have it solved. Once you have identified the problem and tested your solution in the market, yielding a positive result, you can start to build a business.
This process described above is called Discovery and we believe it to be a crucial first step in any business development journey. When done properly, Discovery will save you a lot of time and money and will determine what goes into the design and development of your solution.
What is Discover with Skywalk?
Discover with Skywalk is about unpacking your digital ideas. We go on a journey to understand what it will take to build and design a digital product that your users will love,this is done completely code-free. We understand the time, effort, and cost it takes to build a digital product. Discover with Skywalk is an iterative workshop approach over 3-6 weeks,which allows you to understand the product and the users you’re building for and including them in the feedback loop from day 1.
Discover with Skywalk is the process of de-risking your idea as it moves forward, with the end goal of reaching a feasible solution.
You can expect to deep dive into the following areas:
- Problem exploration
- Identifying a value proposition
- Working to understand potential business models for your idea
- Identify key assumptions and unknown factors regarding your idea.
- Testing your concept through setting hypotheses and experimentation
- Low fidelity prototype
- Code free POC or Minimum Viable Product(High-fidelity Prototype)
- Project Budget
- Recommendations
Why is the Discovery phase essential for startups?
It reduces Risks
While your product is still an idea ,it remains a set of assumptions that should be tested and supported through market research and deep experimentation. No need to spend a lot of time ,effort and money on an idea that will never become a lucrative business.
So how do you ensure that you are not wasting your time on an idea that is doomed to fail ?You speak to users as quickly as possible.We do this for all stages of the concept,problem statement ,value proposition,and business model.If we build up a body of evidence supporting your hypothesis , there is now more reason to spend more time and effort in learning whatever path you’re on.
It is important to note that the concept Discovery is a continuous process that will not end when you decide to build .Building a product ,whether a duct tape solution or ground up development,is only necessary when all other experiments are no longer powerful enough to disprove your hypothesis.
After your product has been developed you should continue to test your product in the market,inching ever closer to product market fit.
The Discovery with Skywalk concept will provide the data to help you.
Discovery with Skywalk helps you make an informed decision in moving forward. Too often startups rely on their assumptions beyond what is reasonable ,your product should be user friendly at every stage .
By clarifying what your business model might look like ,and the potential market it operates in you will be able to gain an understanding of what the value of your business might be if you were to execute on it.
This is important not just for looking for funding,but for yourself too. If your business model isn’t lucrative enough ,it might not be worth building.
Start your business venture the right way by joining our 3-6 weeks workshop saving you time and money.