11 Rules for Shaking up the World – a Guide for Startups, Non-Profits & Business Revolutionaries
[et_pb_section fb_built=”1″ admin_label=”section” _builder_version=”3.0.47″ custom_padding=”30.4531px|0px|0|0px|false|false”][et_pb_row custom_padding=”0|0px|15.2188px|0px|false|false” admin_label=”row” _builder_version=”3.0.48″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”][et_pb_column type=”4_4″ _builder_version=”3.0.47″ parallax=”off” parallax_method=”on”][et_pb_text admin_label=”Text” _builder_version=”3.0.74″ background_size=”initial” background_position=”top_left” background_repeat=”repeat”]
Having a really great idea is not enough to build a company. During my work in advising startups on marketing and brand strategy, I’ve observed some basic issues almost every startup faces. Here’s my take on what startups need to consider as they create the next awesome company or revolution. And yes – these rules go for non-profits driven by a passion or business revolutionaries who change whole industries because they’re all entrepreneurs out to reshape markets and challenge the world.
1. Start a Company Because you See Something Missing
Uber, Slack, and even SpaceX all came into existence to fill a gap, an unsolved problem they saw in the world, that no one was addressing. Uber-connected riders to destinations using a simple phone app, Slack changed how teams work and collaborate in real time and SpaceX is the first independently owned aerospace company that will be getting crews to International Space Station and eventually Mars because NASA wasn’t doing it. What’s driving you crazy that you see an amazing opportunity to solve?
2. Know Who Your Customers are and How You Can Solve Their Problem
Who is that specific customer or group of customers who would be thrilled to use your product because in doing so, it would solve their aching problem? Learn about them; where they live, their culture, and how you can contribute to their world.
3. Really Understand Your Market and How You Fit Uniquely Within it
Why are you a different choice in this market? How do you stand out? How can customers trust you? Why would they even consider using your product?
Think Dyson and how they entered a 100-year-old market and turned it upside down.
To recap, James Dyson, in 1974, bought a Hoover Junior vacuum cleaner which became clogged quickly and lost suction over time. Later while working on his ballmarrow, he came across the cyclone system and wondered if this could be applied at a smaller scale to home vacuums. Fast forward 15 years later, Dyson, using this cyclone technology built the DC01, which became the biggest selling vacuum cleaner in the UK in just 18 months. And presently? Dyson is still inventing and launching new technology as we speak.
4. Create a Great Story About the Problem You Solve
The story is everything. It’s the problem, the solution, and the identity of your company all in one. Think Joseph Campbell’s 12 Stages of a Hero’s Journey. Against all odds, you have come to solve the problem. Define the big issue and how you provide the missing piece that provides changes to people’s lives.
5. Keep Your Name Simple and Memorable – Stay Connected to the Story
Yes, you can come up with really complicated names or names that don’t seem direct. But the key is how that name connects to the story. That’s what you’re selling in the beginning. The name and the story showcases who you help and how – and they must both be memorable and passionate.
6. Understand Who your Partners and Competitors are – You Need Them
Establish who can help and who wants to keep you out of the marketplace. In some cases, partners are competitors, but they also may see your startup as not only a competitive solution but as something they may want to foster and help grow, even buy someday. Look for these partner/competitors immediately when you start.
7. Know Your Core Competencies and Focus on Being Great at Them
Don’t shortchange your company. Bring in the right people with the right competencies. Outsource the core what you can’t afford, hire people that fit your culture but aren’t as expensive to pay. Scale to fit your budget and size.
8. Sales: Get Real Customers Who Leverage Your Value and Visibility as Soon as You Can
Almost everyone has some idea of who the ideal customer is. So get infront of their face as soon as possible and engage with them. Get them to become devoted to your service and evangelize you. They’ll teach you how to make your product or idea better, and you can leverage them to get more customers.
9. In Terms of Technology, Go with What You Know
Keep it simple and move forward with your existing knowledge base and technology platforms; then adapt as you grow by spending on expanded capabilities and broader competencies to as you need them. Don’t over complicate things in the beginning.
10. Hire People as You Need Them
You need to understand that when you start your company, it’s not about structure, it’s about speed to market. Outsource strategically as much as you can until you can really scale. Watch who’s amazing on your core team and help them grow. They will make all the difference in getting you to market and expanding the company. Keep jobs simple and focused. When you’ve really scaled to a new level of sales, you can tell because suddenly everyone has more than one job, that’s the time to build out the management team and grow the company.
11. Find Out What You Don’t Know and Be Ready to Shift
The biggest thing missing in startups is understanding there’s always something you don’t know. This may seem obvious but there are so many blind spots that can trap you and kill great ideas if you’re not flexible. You need to be ready for change or new information that forces reassessment and market shift. At any moment, some new technology may become apparent that could force you to change your model. Be adaptable. It could be a radically new opportunity or sudden shift to a whole new market. You need to be nimble and able to adjust to new realities and build on them.
[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]