You have a Brilliant Idea in 2017 and Ready to Convert It to a Real Business? Here are the Little Things You Need to Know.
Disclaimer: This post is written by a kid who only has less than 2 years experience working in a Start Up company. But he has been around Start Up community before it was cool — In Indonesia. This post is only an opinion, based on the writer’s little experiences, from the people’s experiences that the writer has talked to and from Indonesian’s perspective.
There must be a night in your life when you are having an alpha condition right before you sleep you are thinking how to be a millionaire in a night. Some of you maybe may convert that idea into a real business, the other may just let it evaporate in their dreams.
I know, it’s not that as easy as you all think it is to make your idea to become a machine that can give you cash yet I salute to those of you who have — at least - tried to work on your dreams. Converting ideas into a real business is like a never ending story. There will always problem that you will face in the process. You have just formed a team for your business, then you need to maintain their relationship to work on the same vision. You have created your product, then you have to think how to monetize it. You have just celebrated your one year anniversary of your business, then you have to think how to make your business sustainable. There will always a new problem whenever you have just reached a goal.
But before you start to create your own problem and to become the CEO on your own business, there are little things I can share to those of you who are thinking to make a Start Up. There you go!
- Your Product is NOT for Everyone.
By not for everyone, I mean YES you are right, not for everyone.
You think you are failed when not everyone use your product? Don’t worry you are still doing it right.
I’ve actually just went to a random workshop from the community I’ve just joined last Wednesday, it was all about Digital Entrepreneurship seminar. There is one chapter that I really love the most, about being a realistic to not make a product for everyone. Yes, it is true. Apple product is NOT for everyone. Why do you need to focus to create one product for everyone if you can create products for different markets? It would be better if you can think to make a product for a very small market but as long as you can find a way to monetize it and giving you cash.
2. Do It Bite by Bite
Analyze, Develop, Test; Analyze, Develop, Test; and so on … doing each step for each feature, one feature at a time.
Likewise, the best products are — slowly but sure — delivered in small bite-sized. This is actually one of Agile principle concepts that I love and I think this can help you when you are on bootstrapping stage. Making a business is like playing a puzzle. Do it bite by bite by connecting all the small pieces of your business.
3. Try to Think of Ways to Become a Millionaire Overnight So You Don’t Have to Work Tomorrow.
I still remember when I was on such a self-development program from my ex-company, one of my mentors has told me about always think ways to become a millionaire overnight. This sounds cliche — I know — but what’s actually my mentor meant is you are your own boss in your business, you are the main brain of the company. It means if one way doesn’t work, you need to think of another back up plans to make your things get on the right track. This needs a high level of creativity and years of experiences working with people but somehow it’s your own business, you will always find a way to fix the problem.
4. Get Your First Customers Interested by Telling Your Story
This gem I actually found from Marketing Lesson from Google I have joined. There are 2 ways you can approach your business story to your user or customer: Personal & Higher Purpose.
Let me give you a good example about personal & higher purpose.
Picci goes like this,
Long story short, I am an extrovert type kind of person. It’s hard for me to remember the people I’ve met names. The problem goes when I partied with some new squad, I couldn’t even remember the name to the girl I like. I used to text her in the morning after and invite her to get a coffee session with her in Starbucks. You may guess what’s the purpose I invited her? Yes, I wanted to know her more. But, YES, I wanted to know her NAME first. There goes the story, Picci’s here in your hands, you don’t need that Starbucks trick anymore.
That’s the personal approach.
IS THE WORLD READY FOR THE POWER OF THE FACE RECOGNITION TECHNOLOGY THAT IS BEING BUILT?
We think so. Why? Because it is what you do with that power that matters. With Picci we put the power of face recognition tech in the hands of the user. It is your face, you decide who connects with you. We only ever show the face that you choose to show and your first name. No surnames, no personal details and no instant connections. If someone tries to connect with you, you can accept and access the whole world that Picci offers with your new connection, or you just reject it and remain anonymous.
That’s the higher purpose approach.
5. Hire the Local Talent, Educate & Believe Them.
This is actually I learnt from my dad. My dad was building his business in the remote area that my dad has zero idea the demographic of the people, their behavior, & the market pattern. So my dad came up with an idea, instead of he hires the smart person to do research and handle the strategic planning of expansion, he prefers to hire the local person in that area, educate him and believe what he said — of course, you need to be smarter to and be careful too — on how, and what’s the things my dad needed if he wanted to sell his products in that area.
There you go, it’s I think pretty similar with what I have experienced previously, especially if you are not Indonesian and wanted to do something in Indonesia, it would be better if you hire the local talent and educate them instead of hiring the professional who doesn’t know the area. Because apparently, no one knows the market and its demographic better than local people.
6. There is No Such A Thing As A Perfect Product
Yes, that’s true.
From maybe 90% of the CEOs I’ve talked to, they all said the same thing to me, no such a thing as a perfect product, honey. As it is also one of the Agile principle — iterative approach — advantages, it would be better if to be able to release your product whenever it’s — no need to be perfect — good enough and you think it’s ready to go public, rather than you are having to wait for all intended features to be ready.
7. 2017 is The Year of Mobile App (South East Asian Market)
From the speaker of Digital Entrepreneur event I’ve attended recently, I can make a summary that 2017 will be the year of the mobile app in South East Asia, especially in Indonesia. Borrowing Patrick Grove prediction, Southeast Asia will become a bigger internet market than America. Based on the data, ASEAN will register over 300 million smartphone users in 2017, compared to America which only has 225 million. It means the global app has more users in Southeast Asia than in all of America. It means that you should consider to convert your business to mobile app in 2017, kudos.