Latest posts by TheStartupMojo (see all)
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You have been uncomfortable for past sometime and have developed an insatiable urge of starting something of your own. Something that connects to the fast pacing Digital World of Artificial Intelligence, Internet of Things or developing a product that eases user’s life! Also
You are a “Thinker” and you are evolving through the mental metamorphosis of becoming a “Doer”. The reason you are taken aback is because you are unable to seek clarity on the probability of being successful in the direction you are looking to choose. Think again! Is there a surety in anything that has life? You were born out of probability and uncertainty. Understand the nature laws. Even the definite is circumvented by unforeseen circumstances and You dont have any control over them! Then why to waste your time in thinking again and again something that may not bring any result? But before you get into the execution phase think over the below mentioned pointers in depth.
1.Are you able to seek clarity on the Stages of Idea Progression? If not, then research more!
Are you able to seek clarity over the Product Road map! Define the purpose objective and scope each time a feature of product functionality is changed in your idea book. The progression in the idea phase may not require such deep insights, but it surely would need thought clarity on these few questions. Always try to filter all your product features and Idea progressions through these three questions.
- What is there for the User? Why will he or she use your product?
- Is your Product / Service offering something better than the existing players, If yes then what would restrict them to copy you?
- How would you plan to execute your Idea? Do you have the prerequisites in place? Like Team, Resources, Financial Stability.
This pragmatic approach will help you to prepare better and do not start your idea till the time you have complete clarity over the subject and much in detail. In the journey of obtaining the clarity your faith in your idea would increase.
2. Don’t Generalise, Be Specific! Use Data points to confirm your gut feelings…
We generalise too much and much of the times, we try to seek an overview of things to do intricate planning. Don’t Do it! Generalisation brings in Error Blindness and what you need to sit back with is Statistics to ensure your thought process trends in the direction of what data says? If you are bringing the idea in to its first form, ensure you define the market size (TAM, SAM) and then clearly identify your takeaways and revenue generation channels with a complete clarity not mapped to your thoughts, but to the existing competition! You can refer to the Execution section of our website to gain in detail clarity of the subject. Tweet This
3.Your Idea’s execution will be three times difficult then you can imagine
Come to the Entrepreneurial State of mind. What is that? It’s a stage where your idea forms the Purpose of Your Life and anything else is secondary such as resources, hardships and circumstances. It’s essential that you set the expectations correctly else you would not be able to sustain the hardships and may surrender early. You would have to seek clarity on controllable and uncontrollable factors and set priorities to work on. With this mindset, your Journey will seem to you as a cake walk. Trust us. Seriously! Tweet This