trasure map

The long and winding and hilly and crazy road of entrepreneurship made simple in 7 steps

Posted on Posted in Sin categoría

With few exceptions for some specific cases and considering all goes well, a standard journey is based on 7 steps:

  1. You got the idea.
    No matter what or how, the idea is worthless until you GO FOR IT! Talk about it. Really. Do it. Do not fear talking about it. For some people this is normal. Well… for so many others, it is not. And in most cases, unless you own an exclusive technology, not talking to others entrepreneurs is a big mistake. Share your experience and listen to others’.
  2. Market Research.
    It is a must. If not full, at least: competitors? alternatives? needs? Not having witnessed your idea does NOT mean it doesn’t exist somewhere else is this vast world.
    To be included here: research for seed-funding, public funding, accelerators, incubators, private investors (why not?), entrepreneurship programs…
  3. Don’t go big at once.
    The MVP (whatever it is) is disgustingly ugly, simple, too big or too small… but it hits the point. Do not waste your money on beautiful MVP’s that will need to be modified. We all want to see our baby developed/created/designed in full detail, but, believe me, though it might seem so, it is not the right timing to do it.
  4. Beta version: [(Validate -> refine) x 100 times]
  5. Show it. Talk about it.
    Show it over and over and over. Test it. Give it for free! Endlessly. Listen to feedback. This is continuous marketing and market-test. It’s on the books.
  6. Pitch up!
    x 100 times (VC’s, Banks, Investors). Depending on the project, it is more likely that sooner or later, you’ll need some money. Unless your plan includes some way to get it steadily from your audience/market/users, consider this and note that calling for investors doesn’t mean asking for millions.
  7. Other important things: Marketing, Networking, final version, scalation*…

A big true I haven’t mentioned on purpose: You’ll go nowhere without a team.
But it is also true that you will find the team (right or righter) along the path, so do not freeze everything for the sake of finding a team.

But, most of all, do it your way and apply common sense (write down, draw, ask), because resuming the entrepreneur’s path is like setting 7 bullet points to describe “Sports” and the whole around it and pretending that it fits for all.