What do you think makes a startup succeed? Is it the brilliance of their idea? Is it the team and their skills/personality mix? Is it the constant inflow of Investors and funds? Is it proper timing?
With this, I am sharing this video from TED. Listen to this interesting talk of Bill Gross, the founder of Idealab.
The reason why I brought this up is because a lot of us are scared to tell others about our amazing startup or business idea. We are afraid of being copied. We do everything in our power to protect our idea, and when competitors enter the arena, we become overly sensitive about the issue. The fact of the matter is, what you have is just an idea. You and probably 50 other people all around the world may be thinking of the same idea (probably even simultaneously!).
My opinion is that the startup team who defines, listens and understands the market well wins. The team who is open to tweak their idea based on what the customers want (tweak features, processes or event the timing) succeeds and has nothing to worry about. Now, where do you start validating the idea.
First of all, thoroughly think through everything — all possible scenarios that you can think of. Create a presentation so that you can also visually see your “thoughts”. Then look for people who can help you think through all of these things.
I am a believer of mastermind sessions. Mastermind sessions are mini meet-ups where like minded individuals come together to discuss certain topics. This month, our startup, Taxumo, is teaming up with Solopreneur PH and Horsepower.ph for Solopreneur PH’s end of month Show and Tell Session. This session will be on August 31, 6:30 PM at BlastAsia, Inc. in Ortigas!
What is Show and Tell?
Show and Tell is a venue where you show off your new project to people and tell them how you started and what you learned from building it. If you want to be part of our Show and Tell, please go here: https://www.facebook.com/groups/solopreneurPH/permalink/471767093031426/
It’s a good venue to for the following:
- To gather feedback from the attendees. Most of the attendees are solopreneurs or aspiring solopreneurs with their own businesses. If they are not your market, they can probably introduce you to some people who are. Also, you can ask them about their previous experiences.
- To practice your presentation skills. Presenting to possible investors can be intimidating and practicing in-front of friendly faces is good preparation.
- To gain friends and possible business partners.
- To relax and unwind! We’ve all been working so hard. We deserve a break!
This event is FREE and if you just want to come to listen, feel free to drop by!
Again, the events page for this meet up is: https://www.facebook.com/events/1602233543408756/
Hope to see you there!