“I do this. And I also do that.”
If you are at a cocktail party or an event it’s easy to spot the wantrepreneurs. They are the ones talking about their ideas, their products, their team, their potential. Rarely do they give a chance to let the other person share anything about themselves.
On the other hand, if you witness a conversation with the entrepreneur, you’ll notice that the entrepreneurs don’t say much. They are instead focusing on listening, and developing a relationship with anyone and everyone they talk to. They are genuinely interested in others. You’ll often see them chatting up cashiers and cab drivers. They also know that anyone could be the key to their next customer.
Are you interesting or interested? Let us know in the comments below.
This was created by Kriti Vichare for #entrepreneurfail: Startup Success.
The UP.co blog will soon be moving over to Techstars.com!
I recently had an entire conversation with a startup founder with a handful of emojis, some bitmojis, and a picture. As time is of the essence for founders, not a second should be wasted on non-essentials. Who has time to type out words?
An entrepreneur’s love story can be portrayed in a series of icons:
- Firstly inspiration hits and an entrepreneur must do all he/she can to woo the idea.
- As the entrepreneur tries and tries to finds a customer, the sweat and tears change the love story into a tragedy as we are not sure if the entrepreneur’s efforts will ever live up to the idea.
- The entrepreneur gets it in his/her head that a sure way to expand the love for the idea is through investors.
- The entrepreneur gets used to rejection and feels hopeless.
- The entrepreneur’s emotions go into a pit and he/she wonders if it was ever really true love with the idea? Perhaps it is time to give up?
- When the entrepreneur is seconds away from giving away the true love of his/her life, the first customer materializes. The skies break, and the sun shines through.
What’s your iconic startup story? Let us know in the comments below.
It’s great to be back this time as a co-organizer working along side a team that allowed me develop both an idea and myself under 54 hours. So in retrospects, here are 5 tips I’d like to share with you going into the weekend to start something amazing.
1. Be open to new ideas
My favourite ideas pitched at the last Startup Weekend where those that were thought up during the weekend, so be open to coming up with and listening to people with new ideas. It’s definitely easier to have a new team excited about an idea they all chipped in to form than another just one person brings to the table with an attempt to get a buy-in from others.
2. Be friendly and get talking
Smile. Walk around. Say hello to people. The weekend is meant for more of collaboration than competition. Get talking to other people, volunteers, organizers, the photographer, and the chef. They may just be the future customers that will validate your idea or give that priceless feedback. Everything to gain and nothing to lose by being friendly.
3. Leave the building
I cannot stress this enough. Get out of the building and get talking to prospective customers. If possible go ahead and make a sale. One thing you want to get out of Startup Weekend is to validate your idea and business model. So spend a good time having customer interviews. Call people up for feedback and cold call to make sale if need be.
4. Network with mentors
These folks are industry leaders, technical superstars, business gurus, growth hackers, and more – and they will be hanging out with you all weekend. Use them! I remember last Startup Weekend when just a 2 minute conversation with a mentor cracked open the code on our business model.
5. And most importantly, have fun
No matter what happens this weekend. Don’t forget to have fun. Work hard but play harder. Don’t go running home and missing out on after-drinks. Take a break, ride the seesaw and try the gaming console. There’s also a #swdubselfie competition so don’t miss out on that.
That’s all for now. Follow @swdub on twitter and vine and share your experience with the hashtag #swdub.
Its Saturday morning. You are sipping on your coffee/tea while eating your bagel and wondering, “OMG WHAT DO I DO NOW?!?!?!”. Don’t worry! Here are some suggestions on where to go from here.
Business Model Canvas
The Business Model Canvas allows the startup to document the 9 key areas of a business model. Rather than writing long paragraphs, each of the boxes is filled in with short notes to document the hypotheses associated with the specific sections of the business model. This approach allows the initial business plan to be documented in a couple of hours rather than months. Here is a great breakdown and explanation of the canvas along with some examples: http://www.slideshare.net/esaife/business-model-canvas-101
You should have your first version completed by lunch time so you can move onto customer validation.
As Steve Blanks says all the time, “GET OUT OF THE BUILDING”. Steve has a set of videos that really cover this topic well: http://vimeo.com/user2776234. It’s really important to talk to your potential customers. They may be in the same room/building, they may be across the street. They may be on Twitter/Facebook. Go find them and ask them the right questions so you can get the feedback that you need. Some sample questions are:
- Do you suffer from this problem? What apps/services do you use now?
- Would you use this idea/product? No? Why not?
- Would you pay $X.XX per month/year/one-time to use? No? What is an acceptable price?
- What features would be most important for you?
- Can get your email so we can keep you up to date with our product?
If you are collecting information via the Internet, you should create a form to collect your feedback. Google Docs allows you to create surveys on the fly: http://www.google.com/google-d-s/createforms.html
Take as much time as you need to work on your validation. You can’t accomplish everything you need in an afternoon.
Based on the feedback that you get, your assumptions will either be proven to be true or false and you will discover things you didn’t think about. Make sure to update your Business Model Canvas to reflect your new findings. (eg: “We discovered through our customer validation that our target audience is not really women, but men!” OR “Monthly subscription was too much. People preferred a pay-as-you-go model. )
The coaches and mentors will start to arrive at around 2PM. They will walk around the building and interact with all the teams. Feel free to chat with them see how they can help you. They were here to help you so make sure you take the time and chat with them. The mentors range from developers, designers, product, marketers, PR, founders and much more. There is bound to be someone that can help you with what you are trying to do.
For a full list of mentors/coaches: http://www.up.co/communities/usa/new-york-city/startup-weekend/4419
Startup working on your MVP (Minimal Viable Product)
Based on the feedback that you have gotten from customers, you should have an idea on what to build and what not to build. Here is a great article talking about different types of MVPs: http://scalemybusiness.com/the-ultimate-guide-to-minimum-viable-products/
If you have people on your team that can help start building it, then great! By all means, start laying your code. But if you don’t have the developers or designers that you need, don’t worry, you can still use plenty of tools out there to help you prototype your app/idea without laying out code.
WARNING: If you decide to go and only make wireframes/mockups, they had better be the best mockups/wireframes that you can produce in a weekend. Don’t draw a box on a piece of paper and say its your mobile wireframe. Bring your “A” game this weekend.
You only have 54 hours. We don’t expect your app to be scaleable to 1MM users. It doesn’t need to hook into every social network platform out there. Your MVP needs to show us (the judges) that you put some thought and effort into app. They know you only had 54 hours to work on it, do the best that you possibly can.