Once you have identified an idea or technology as the basis for your innovation-driven business. Your first goal is to assess the needs of potential customers, focusing on a target customer with the goal of achieving product–market fit—a product that matches what customers in a specific market are interested in buying, which unfortunately he failed accomplishing this step as the customers did not want to buy his product.

The single necessary and sufficient condition for a business is a paying customer. The day someone pays you money for your product or service, you have a business, and not a day before. You cannot define a business as a product, because if nobody buys your product, you simply do not have a business. The marketplace is the final arbiter of success.

Now, just because you have a paying customer does not mean you have a good business. In order to have a good, sustainable business, you will need to gain enough customers paying enough money within a relatively short period of time so you do not run out of capital, but instead, become profitable. And as a startup, you have few resources, so every action you take must be hyper-efficient.

Therefore, you will not start by building a product or hiring developers or recruiting salespeople. Instead, you will take a customer-driven approach by finding an unmet need and building your business around it.