You are in business and know well how to succeed. However, I have seen many business owners get trapped in unnecessary processes and lose focus.
I like to suggest the following.
- Don’t wait for a revolutionary idea. It will never happen. Just focus on a simple, exciting, empty space and execute as fast as possible.
- Share your idea. The more you share, the more you get advice and the more you learn.
Meet and talk to your competitors.
- Build a community.
Use blogging and social software to make sure people hear about you.
- Listen to your community.
Answer questions and build your product with their feedback.
- Gather a great team.
Select those with very different skills from you.
Look for people who are better than you.
- Be the first to recognise a problem. Everyone makes mistakes.
Address the issue in public, learn about and correct it.
- Don’t spend time on market research.
Launch test versions as early as possible.
Keep improving the product in the open.
- Don’t obsess over spreadsheet business plans.
They are not going to turn out as you predict, in any case.
- Don’t plan a big marketing effort.
It’s much more important and powerful that your community loves the product.
- Don’t focus on getting rich. Focus on your users.
Money is a consequence of success, not a goal.
Please let me know if you want to know more on above rules of Business success.
Suresh Shah, M.D., Pathfinders Enterprise