How to build lean business in 2024

Hey, what’s up entrepreneurs,

In the previous newsletter, I provided two types of business models, one focused on organic growth and the second on fast cash flows.

From my perspective, a lean business model will always win when it comes to the long run. Just because the psychology - we are not machines and everything we achieve in this life comes from compound interest of stable small improvements rather than lucky events and hard commitments.

And here are some pieces of advice if you want to build a lean business starting today:

Before you start developing the Product

1. Choose one social media platform (X, LinkedIn, Threads, etc.). Set up it to be clear what you do there. Share insights, curiosity, and what you learned. It will help you to:

   • build an audience, to check your assumptions for your ideas.

   • build your brand and become the opinion leader in your specific niche.

   • find like-minded people to collaborate, leaders to get insights, and people who want to achieve what you already have - to teach.

   • build funnels to sell your future product.

At first, it will be challenging, but after six months, it will become much faster and automatic.

When you started

1. Write down, systematize, and share everything you learned while building and provide insights on how to succeed and overcome obstacles. In 1-2 years you will have content to:

   • create lead magnets, start newsletters, or a YouTube channel. It would be your second sales funnel to your product and it will help you to prepare content for books or courses.

   • build online courses or write a book, the most passive and profitable assets.

2. Participate in RT events find your people, collaborate, share knowledge, or even start your community and events.

While building

1. Self-reflect on what works, and pivot if needed.

2. Create metrics and check the progress.

3. Create a system and try to find a business model that works for you. Learn to execute and operate your business.

4. Acquire specific knowledge in your sphere and develop entrepreneurial habits.

So with time, you’d built ACP Funnel (Audience, Community, and Product). This means, not only product but also brand, audience, and distributed system!

That’s it for today, my friends.

Have a wonderful week and see you later!

A.