Validation, validation, validation!
Many weeks have passed since the former ABIS team was allowed to take part in the coaching of MediaLab Munich. The coaching goes from the first idea to the finished digital product, if you are ready to grow beyond your own shadow.
An idea alone has no great economic value. In the MediaLab we were taught what it takes to properly develop a start-up into a revenue-generating company. Therefore, validating ideas and conducting interviews with potential users in the right target group is quintessential. In order to be able to interact with business confidence, you should also validate yourself and take a personality test.
Business Model Canvas & Value Proposition Canvas
In order to find out which target group should be addressed via which channels, the ambitious coaches first explained the two tools described above to us down to the smallest detail. Personally, I had a hard time with clear and transparent communication at the beginning, because I was very impressed by the quality of the information exchange - respect is important to me.
Also important are the costs and partners which are an essential part of a healthy young company. Here we learned how easy it is to form a clear line in the corporate structure in order to be able to scale a product healthily in a future-oriented way.
Anyone who has a good idea for something innovative for the media should definitely get in touch with the team of many unique professionals at Media Lab Munich.
„Fake it until you make it“
After we had interviewed about 20 potential customers, we continued with the implementation of their wishes into the software. At this point, I finally realized that my design of the ABIS software had no real weight. At this stage, it's all about making the App & Services easy to use for the user for the first time. Thanks to the coaches like Tobias or Benjamin, we gained valuable knowledge to develop an easy to use application which also gives B2B users a clear competitive advantage. That at this stage not everything is immediately feasible was something everyone was aware of. Therefore it makes sense to use tools like Sketch or Zeplin middle or high fidelity mockups for more complex features from time to time in order to demonstrate them to the user more clearly.
Teambuilding at a Sea
In my experience the most emotional event for the ABIS team. It was about being able to judge other people correctly and maintaining respect for each other. I don't need to explain in detail that it will be "stormy" if everyone wants to assert his opinion in his professional expertise. At this point we found out that all three of us were partially stuck in our opinions. The event helped us to travel together to continue the shared vision with heart & mind ambitiously. What I have personally learned is that at best one should not try to build a company together as a circle of friends. Because at the latest when it comes to the financial it can become very "stormy".
Pitching & Networking @Google Munich
At the Media Innovation Days at Google in Munich it was then as good as possible to implement what we had learned. Before that, each startup had to create a poster about its product. For this purpose, we created a quite respectable piece of information from individual sheets of paper. I found the concentrated energy at this event very motivating. The reason why I was finally ready at this time to actively approach people and tell them about our vision. Amazing what a network we could build that day. The topic of digitization and artificial intelligence has become a hot topic for journalism, since Microsoft uses algorithms to create autonomous texts on topics, for example.
Maintaining focus and staying straight
After a few more weeks it was time for the end of the Batch5 of the MediaLab Munich. Unfortunately, the ABIS team didn't finally agree on how it makes most sense to continue with the product with a clear line, because of which I left the team prematurely.
The lessons I learned from my coaching sessions have now been implemented almost daily and I have already been able to support several young entrepreneurs in business development. I wish the former ABIS team every success with ABIS. For my part, I am delighted to be able to accompany the two start-ups, of which I am a partner, in their honest and healthy success.
The time of coaching was one of the most intense and incisive in my life. I have learned to communicate clearly and transparently and finally I know what my skills are and how I will use them for successful projects in media and IT for various clients.
If you are interested in a unique coaching let me know and write me a message by using the Contactform on the start page. I will then contact you immediately.
Do not hesitate and become successful now :)