Entrepreneurial ramblings while on the way to the airport…
We are in 51 countries with over 800 amazing companies. How did we do it? Simple… 1) Identified a problem 2) Came up with 2 good ideas. 3) Had 1 lucky break. 4) Kept it as simple and easy to use as possible and, 5) Endured lot of sleepless nights. We created a portal to help as many businesses around the world connect with each other and do business (www.JoinTheEquation.com). We hope that the more businesses we connect the more the businesses grow and raise the tide for everyone else.
But it wasn’t an easy entrepreneurial journey. The most difficult part? Keeping it simple. So easy to just add features.
Keeping it simple is difficult because it requires you to have an absolute crystal clear understanding of the value of your solution. And it is surprisingly difficult to define your value add sometime because we often make untested assumptions on client needs.
And the best tester of assumptions? Paying clients! Free clients and friends are not a good indicator of the value of your business solution.
Another piece of advice: Try not to fall in love with your business idea. Rather fall in love with finding a solution to a business problem – that way you’ll be mentally more flexible to change your approach and less attached to your idea.
My best tip to start ups? Find a reference client you can build your value proposition together with before going big.
There is only one rule in business: Income must be greater than expenses. That’s it. No exceptions (especially in the long run). Remember that when making your plans.
And maybe just maybe, forget about building a huge global business. Build a small profitable one first. Less pressure on all fronts.
Happy ad-ventures my friends!