If you are looking for an honest take of what it is like to enter the world of entrepreneurship, and how this entrepreneur was able to make a 250+ employee company in a span of one year from scratch. Then, this vlog by the founder and CEO of Crown it is all you need to watch.
His first video How to start-up of the series ‘An Entrepreneur’s Guide’ will take you through the ground reality of putting your idea through the grind and in motion. From validating your concept to knowing how to gauge your target audience, this video will help you find answers to these questions.
Here are some interesting excerpts from the video:
Quit Your Job:
Till the time you don’t remove that safety net from underneath you, you will never be able to deliver with all your passion and dedication. You need to have the attitude of your Start up being what you eat, sleep, dream and think about.
So, quitting your job isn’t an option. It is a step!
Be a Businessman:
The common notion of a Start Up being a work environment with bean bags and pool tables is something you need to get over. You need to start thinking of your Start Up like a pure old school businessman. Think of what is it that you are building. Think of what is it that people will pay you for, whether it’s a virtual product or a physical one or a service.
Question yourself: How am I going to sell it? What is the right segment of users? Is it scalable?
Think like An Investor:
Think of your idea or business as something that you would invest in or not if you were an investor. Think if it’s an idea worth putting into motion and whether you would put in money if you had to invest in with your own money. But whether you need an investment right away or in the future, the best way to know whether it is an ‘investable idea’ is to go to an investor. This will be helpful because an investor will give you the best feedback for you to go back to the drawing table.
Create a Pitch:
You need to create a pitch for your potential customers to see and read their emotions. Lay down the benefits and the qualities of your product that will scale your potential customer’s reaction. It is advisable not to try this with friends or family who will support you no matter what. Instead, pitch it to strangers and pick their brains with the prospect that your product will be ready whenever they are. This will tell you whether you need to go back to the drawing table or if you are good to go.
Persevere or Pivot?
You will know it in your heart even if everyone turns you down, whether to persevere or pivot. You will know it in your heart whether this product is a ‘need’ that people don’t know about and if it will work. But if not, then you need to pivot and go back to the concept and features, and alter till you hit the perfect combination. Remember, there is no plan B.
It’s not about being an Entrepreneur. It’s about being a Businessman. When you know you are ready, take the plunge.
An Entrepreneur’s Guide is a series of video which will be released on our YouTube channel over the next couple of months. Do stay tuned for more!