startup entrepreneurs road map to developing winning products: why, how and what's next
DESCRIPTION
Never failed again road map and formula for startup entrepreneurs who want to change the world.TRANSCRIPT
Entrepreneurship
Why, How and What’s Next
by Andi SieStartup Entrepreneur and Investor
WHY?
• Why Not (e.g., I want to be an entrepreneur because I hate my job and I want to try something else)
• Just Because (e.g., My parents and grandparents are entrepreneurs and so am I)
• Purpose**Purpose is beyond Passion, consider this the key to success that will help entrepreneurs go through hard times
Example:
In 2012, ~ 1 out of 3 Americans are considered obese, over 147 Billion in associated medical costs.Source: American Heart Association, Center for Medicare & Medicaid Services 2012.
Can we do something about this???
• Before
How about this idea to scare people away from consuming junk?
• After
Fat 40%
Salt 52%
Passion Driven Startups
Sport Bleacher Report
Home Decor Houzz
Design Pinterest
But we should look for purposebeyond passionExamples of Purpose Driven For Profit Businesses• Cliff Bar - Make food that makes the world a better place
• Google - Organize the world’s information and make it universally accessible and useful
• Kiva - Make food that makes the world a better place
See more: http://gamechangers500.com/
How to look for a purpose?
Be compassionate, then:
• Observe your surrounding
• Identify problems
• Challenge status quo
Look for opportunity within your domain
IndonesiaOpportunity Within
I found the purpose, I want to change the world, now what?
Over 90% of startups failed!Source: http://www.amazon.com/You-Build-Will-They-Come/dp/047056363X
Most founders failed to create the future with customers.Source: http://hbswk.hbs.edu/item/6591.html
Now you need to look for a winning product idea to deliver your purpose
Keep in mind…
How to identify a winning product idea for your next startup?
Use these simple I.T.C formula
• Impact – wholesome purpose ?
• Top Down – market size, customers, channels, cash
• Capability – leadership, ability to make the product
What’s Next?
• Positioning. Understand where you are at in life. Be aware and thankful of who you are, what you have and your surrounding
• Act. Don’t wait, take actions right away
• Measure. Measure your progress based on impact
Bonus: Free Winning Product Identifier
Scan the qr code on the left or go to: http://bit.ly/winningproduct
Connect
Andi Sie
Startup Entrepreneur and Investor
@andisie
andisie.com
Let me know how can I be of assistance