Solving the full problem by focusing on the target market

Got an idea for a startup? Great!  Now, tell me, what problem does it solve?

Well, if you are having trouble articulating that, or, if you want to improve your chances of succeeding... Read on!

So many ideas solve nobody's problem.  And so many ideas solve a problem only partly; or barely.

If you want to succeed in: your Kickstarter, your indiegogo, your launch, your business - you need to be thinking - what is the full problem!

Here are 3 tips to help you think about the problem you are solving.

1. Target market!  -  really try to narrow down on whom is the target market!  Gender, age, and psychographics!   As specific as possible.  Remember, nothing can solve everyone's problem, but something can solve someone's problem completely and make them very happy!

2. Think solve problem, not your idea.  Probably your great idea helps solve the problem, but most likely you can add 2 or 3 components (even if it's just documentation) to really completely solve the problem.

3. Cut out anything that is not truly necessary to solve the problem for the specific target market you have in mind!

Now, get out and solve something!

Defining Entrepreneurship and Startup

This is a call for a more universally agreed  on definition of entrepreneurship, startup and small business.

My proposal is simple:

Startup - a new business of any kind (big, small, or entrepeurial)

Entrepreneurship - the study of "novel" businesses which has the opportunity to "grow big"

Entrepreneur - a person who has founded or cofounded a "novel" startup which could or did "grow big".

Small Business - a private non-novel business, with a known risk/reward profile based on prior businesses of that type.

Discuss...

The Lean Startup Toilet Bowl Trap of Getting Nowhere Slowly

Progress.  That's a nice word.  "We're making progress...", says the workers cutting the road through the forest.   Then, a wise leader climbs a tree and says "but you're going the wrong way!"

That's all fine and good, and a good lean startup does this often.  It's called "Pivot" and it's central to the Lean Startup concept.  But what happens when you just keep pivoting?  Aren't you chasing your tail?  Suddenly, you have a road to nowhere, or worse, a road that goes in circles.

This is a TRAP!  Your "lean startup" just got into a slowly dieing spiral of doom.  Your dream is getting flushed in the toilet because you keep climbing that tree and realizing that you're going the wrong way!

Here's an example of the Lean Startup in the Toilet Bowl Trap:

1. You build a website and collect some preorders (yeah, progress!)
2. You ship the preorders and get feedback from customers that they love/hate certain features (yeah, progress!)
3. You fix the product based on the feedback, and nobody buys it (yeah, progress!)
4. You PIVOT to a new product and collect some preorders (yeah, progress!)
5. Jump to step #2, repeat, all the way to the toilet's flush.

So, how do you get out of this toilet bowl trap?

First, remember, the definition of insanity is doing the same thing expecting different results.

You have to do something different!

In many cases, the problem is not 'your product' or 'your idea', but the marketing instead!

Instead of constantly pivoting on "product" you might need to pivot on some of the other 4 P's of Marketing:

1. Place: Maybe your lack of orders is because it's not available where the customers are... and particularly where the customers are that are in the buying mood for what you offer!
2. Price: Maybe your lack of orders is related to the pricing or pricing structure of your product.  Maybe you need to sell it in parts, or with different options.  It could even be too low!
3. Promotion: Maybe your lack of orders is related to how you are attracting customers.  Sure, you're getting a lot of 'views', but are those customers: the right ones, in the right mood (buying), with the right goals, with the right problems, with enough education about your solution, etc.?  Or Maybe, your just not reaching your right audience, or just not 'appealing' enough to their needs (messaging).

So, avoid the Toilet Bowl Trap: run Lean Startup Experiments on more than just 'the product'...

Enjoy!

Effort and Leadership - 3 Tips to Motivate your Employees

I am very proud to be able to train in ATA Martial Arts with Chief Master Niblock at his school here in Austin, Texas (Round Rock).  Today, like many other days, Chief Master Niblock gave us not only a great physical workout, but also great lessons in life and character.

[paraphrased] "You have students or employees who don't give 100% effort, but have you looked in the mirror.  YOU, the leader, need to be giving 100%, or  you can't expect it from your students." said Chief Master Niblock.  "It has to be every day.  Nobody wants an employee who only gives 100% on Mondays, so you have to give 100% every day if you expect it in return."

I was inspired, as I often am when getting to train with such an awesome instructor.  We all need our mentors and people to look up to, and Chief Master Niblock is that to me.   Without further ado, I give you 3 tips to motivate your employees, inspired by Chief Master Niblock.

1. Lead from the Front  -  You need to be giving 100% effort every day, not just on Mondays!  You cannot and should not expect more from your employees (even in a Startup) than what you are willing to give yourself.  And you need to give this effort "from the front" so that everyone can see you.
2. You set the Tone - If you are down, or having a bad day, it's likely they will too.  Somehow, you've got to find silver linings, shiny day's ahead.  Positivity is contagious too... you just have to set the tone.
3. Be Fanatical about your Vision - Especially for a startup, you have to be absolutely focused on your vision and achieving it.  This means saying 'no' to all the distractions that come up, and saying 'yes' to anything that might move your vision forward.  Every day, you need to share your vision with the team, loudly, proudly, and with that Positivity.  Your vision will become contagious too.  Suddenly people will start making decisions in an empowered way that will move forward your cause, not just "work for work's sake".

Harlan Beverly Training in ATA Martial Arts

Bonus Tip for Investors/Board Members - This tip is for board members and investors...  you need to make sure you consider the Agency Problem.  You cannot expect your startup Management Teams to put forward 100% effort if they are not incentivized to do so.  That means believing in their vision/mission, and making it worthwhile if they succeed.  The trickle down effect of an improperly incentivized management can lead to an entire organization that's not giving 100% or is giving it to the wrong things.