Idea to Business
Let’s say, you realize you have a brilliant idea in the food tech industry. You know there is market because technology is needed and people are always hungry.
So market — Check
You want to think your friends to know if they think this is a cool idea, and they indeed think so.
Cool idea- Check
You ask the manager at a restaurant near your home if he thinks this idea will be helpful. He tells you he has been waiting for this for ever.
Validation — Check
Your parents and elder sister love you and promise a sum of money which is more than your entire year’s salary.
Your school friend who is out of job say yes to help you build it.
3 months later
You have burnt your ‘angel’ round to feed the 2 of you
Your envisioned product or half of it is still a good 3–5 months away i.e if you can have 2 more developers working on it and you have to probably find a designer because it looks shit.
Your envy ridden ex-colleague sends you a ‘Yourstory’ article about another cool bunch of people who are doing the exact same thing and have just raised a 7 figure funding and sadly their product is not half as good as what yours could or in the current scenario would have been.
We all have been through this path. But somehow are not able to stop the wastage and the drain of the spirit of an entrepreneur. We had our own tryst with such a journey for not 1 but 3 different ideas, we are as of now bootstrapping the 4th one.
Finding the right curated idea is crucial. It may be done before, but is there something up your sleeve to make it better? Go full throttle sharing the idea with others — NDA be damned. Collect feedback.
Do not wait for ages to build that idea into a product. Go frugal,cheap, quick build version 0.001. Measure the usability and the adaptability. Validate your idea.
You do not want to be in a state where you have to choose between coffee with your client or your next meal. Once you have a working prototype start creating decks & pitch to investors; raise funds but find the right investors at the right time.
Build the right team:
Hire,outsource,freelance- You are the owner of the product, do what it takes to make this happen. Each option comes with its own challenges and it all boils down to making the right calls at the right time.
Design keeping the end user in mind make simple yet effective interfaces and experiences for your product. Keep small release cycles and keep pushing constant updates. Keep building upon the engagement with your users. Take feedback, iterate when need be, update.
Market & scale:
Go to market, sell by all means and scale the product to be more adaptable.
Easier said than done? But help is here 🙂
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