My talk at the STARTUP BREW: Transitioning from Employee To Boss...
A Brilliant Transformation
Before I became a boss, I was teaching Math and Programming in the University.
Then I got a scholarship for Master’s in IT, this is where I saw a whole world of opportunities.
I left everything to take the rollercoaster ride that is Entrepreneurship.
Fast forward to today I can say that I’ve been through a brilliant transformation.
From employee to my own boss I’ve always felt that it was magnificently fast!
Surely, it was the power and magic of time that’s working when you do something you believe in and love.
I believe that start-ups are diamonds in the rough. If diamonds have 4Cs that define its qualities, then entrepreneurship has 4Cs as well... ...
Commitment, Customers, Canvas and Cause.
What inspires commitment?
When I started the business, I really wanted to be a part of the mobile revolution
I believe that there’s something I can do and take advantage of the opportunities that it offers
This was also inspired with the expectation that I will be rewarded financially.
After all, I put everything on the line didn’t I?
How Committed Are You?
At first it was exciting then you meet challenges foreseen and unforeseen... then it gets even harder.
It can exhaust your resources, and weaken your resolve – It’s frustrating.
So you think you had it all figured out?
Innovation and competition can change the business landscape and you are left with no choice but to reroute to remain.
Situations like these teach you to be more resourceful and creative.
Find your NICHE, seek out EARLY ADOPTERS
They are your early adopters.
The law of adoption and innovation
2.5 percent innovatiors - TRY SOMETHING NEW
13.5 percent are the early adoptors - THEY BELIEVE IN YOU
34 percent early majority - EVENTUALLY FIND YOU USEFUL
34 percent are the Late Majority - CATCHES UP WHEN YOU ARE EVERYWHERE.
16 percent are the Laggards - HAVE NO CHOICE BUT TO JUMP ON THE BANDWAGON.
In this era of social media it’s most effective to tap the 13.5 early adopters because they will be those who believe in your vision.
Why Are They Important?
Your product is just your guess. Maybe people will use it.
That’s why you have to reach out to your target market
And find out if they are willing to use and pay for your body of work. Their feedback validates your guess before you even spend on product launch, ads, and full blown product development.
Today is all about Permission Marketing (Seth Godin)
Gone are the days of interruption marketing where you target the majority,
Your visionaries are your endorsers.
Find, keep and grow them.
What is Your Business Model?
The Business Model canvas (Alex Osterwalder) has become the standard roadmap for start-ups and big organizations that are starting a new project.
The heart of the canvas is your Value Preposition or the value that you offer.
The right side of the canvas is all about your customers, your niche, how to find them, market to them and how you earn from them.
The left side of the canvas is about you, your resources, activities, partners, and costs in delivering your value.
What’s In It For You?
Once you’ve mapped out your canvas right,
You get a repeatable and scalable business model.
Repeatable because you can get more customers with the same structure.
Scalable because you can have unlimited reach.
This serves as the heart and soul of my business. When you have a certain cause behind your business, you will be more determined, less fazed and discouraged. I often ask myself the following...
-Why did I choose to start this business when I had no capital, connections and expertise in the business I wanted?
-Why did I risk everything? School, leaving my scholarship behind and deciding that I would pay back my sponsor when I hardly had any money and a job to sustain myself?
-Why would I get into a startup business during the time I had a four month old baby and my older kid is about to start her grade school year?
-Why would I stick to this business when problems with partners are one too many?
-Why do I keep taking risks? Why am I relentless in my pursuit?
At first it was all about passion and expectation of something great but then through experience brought upon by time, I’ve realized a higher purpose. Even more than what I’ve set out to achieve in the first place.
Why Take Risks?
It’s because I believe through my craft, I can improve my life
as well as the lives of others.
To continue making positive changes.
What I'm aiming for is to impart the message that nothing is done overnight. Rome, Google, your favorite celebrity's career, and yes, the business that you're aiming for. By focusing on the 4cs you may find the clarity focus and inspiration you need for your business. Like diamonds in the rough, experience smoothens out the edges and brings out the shine and luster that we all aim for. Eventually, we will all be getting our shine on.