Having ideas is very cool. Everyone has ideas. And I really like ideas. But do you know what I like even more? Those who develop and make them happen.
“Man, I have an idea for an app that will revolutionize the X market.”
“I have an idea here that will solve the Y problem.”
“My idea is great and will reduce the cost of Z.
“Man, let’s start this business! Can you develop it?”
“Oh, you can’t? So, do you know who can and how much it costs?
Very expensive, my friend. After all, you only have an idea.
So tell me a few things: have you already validated that the problem actually exists? And have you interviewed a significant sample of potential customers? Have you validated the solution and researched the market deeply enough to know if it is ready for your product or service? Will people really pay for it? And why do you think you are the right person to develop this solution?
I know you think you know all the answers. And that if Steve Jobs became a millionaire by doing something in his garage (and let’s be clear, that’s a fairy tale), you can too.
It’s cool that you think that. Dreams are as cool as ideas. But do you know what I think after founding my third startup? That it’s much harder to execute and succeed in business than most people imagine. And I also think you might need help and guidance to put your plan into action. No, you don’t just need a guy to develop your app/website/game/machine/whatever. That’s wasting time and money. It’s not enough to think you had a great idea and that you just need to find someone who can code and this person will create the solution for you from nothing.
You need to understand what your market is and its size. You must clearly define who your customers are and who they aren’t. You have the obligation to talk to these potential customers and understand them. And you also need to make projections. Have a marketing strategy. And before you start developing something expensive and time-consuming, you should even try to sell something close to what your product will be to see if people (or companies) are willing to pay — what we call an MVP (Minimum Viable Product).
In summary: you need preparation to start a business, especially with something innovative. So here’s a huge piece of advice I’ll give you for free, but that will save you a lot: participate in a Startup Weekend.
Yes. That’s it.
Will you come out of it with your product ready for the market? No!
Will you become a super entrepreneur just because you participated in a Startup Weekend? Of course not!
Will you be fully prepared to start seeking investors for your project just because you participated? Definitely not.
And finally, will I be willing to join you in your venture just because you attended the event? Obviously not.
So why would you do it?
Because it is a great start. If you truly want to move your idea forward, believe you are very resilient, and make things happen, if you are really willing to work hard to push this project ahead, you should at least get a taste of what entrepreneurship really is. This will be valuable help. You will learn to validate the problem and your solution, research the market, create the prototype (the MVP), sell, and properly present your solution to the general public and to investors.
These “details” will be learned through practice, and you will also have the support of mentors who are highly skilled professionals from the market.
Of course, the Startup Weekend doesn’t perform miracles and won’t turn bad solutions into good ones, nor will it solve all your challenges for you. But it does offer you unique guidance and a good perspective on what entrepreneurship is.
Do you necessarily need to participate in a Startup Weekend to learn all this? No. You can study on your own, hire someone to teach you, take courses, and explore various other alternatives. However, participating in a Startup Weekend is one of the fastest, most practical, and rewarding ways to start. It is also a unique experience and a great opportunity to make contacts and friends.
Having an idea is really cool. I love ideas. But the real champs are those who validate and execute them. If you truly want to be an entrepreneur or bring your idea to life, start here.
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