It’s your first day as a self-proclaimed entrepreneur. Maybe you’re fresh out of college, just quit your job, or simply have an exciting new idea that could make you your first million. Whatever the case may be, it’s time to decide – should you start where most entrepreneurs start?
- Brainstorming business names
- Checking domain name availability
- Deciding upon logo schemes
- Filing state and federal forms
- Setting up bank accounts
- Purchasing office supplies
No, no, no, no, no and no.
Fast and Cheap
Your product or service is untested. The only way to truly test it is to release it into the marketplace. Your primary focus at this point should be on putting your idea into your customer’s hands as soon as possible and for the least amount of money possible. In short, work fast and keep it cheap. To do this, focus on just two things: product and sales.
Once your product reaches your customers, you’ll realize that many things you assumed they would care about, they don’t. You’ll also discover many things they want that you probably hadn’t considered.
The question now becomes: “How do I keep it fast and cheap?”
Fast Products
Quickly developing your product or service requires laser focus. Don’t launch with 30 products, services or features. You’ll invest too much time and none of them will be any good. Instead, pick a very specific feature, service or product. Now decide upon the ugliest iteration you and your customers will tolerate and set out to create it. If your idea becomes a success, start working to create a better, updated version of your offering.
Cheap Sales
The cheapest way to sell your idea is to talk. Talk to anyone who will listen. Don’t be modest or shy about what you’ve conceived. If you are genuinely excited about your idea, others will get excited too. If you begin talking to your target market before your product or service is launched you may even get excellent feedback prior to launch. That’s fast!
Success?
Is your product selling well despite ugly packaging and no logo? Great! Go design a logo and you’ll start selling more. Did you make so much money that doing your taxes has become more than you can handle? Huzzah! Go find an accountant and use all that dough to have your taxes done right.
Creating Problems
This singular focus on product and sales will require you to ignore other important aspects of your business: processes, presentation, office space, even staff. Sure, these things are important, but only if your business becomes a success. Instead of devoting valuable time prior to launch, wait until they become a problem. You should be so lucky!
Most entrepreneurs believe their biggest obstacle is a scarcity of money. In actuality, time will be your scarcest resource. YOUR time. Dealing with issues when they arise and not a moment sooner will allow you to spend the majority of your time on things that truly matter.
Create problems in order to succeed.
By Tim at eDash Marketing
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