Do successful businesspeople and entrepreneurs have a mental blueprint for creating lucrative enterprises?
I think most do.
It’s fairly straightforward:
- Lock on a Very Good Idea. Take Your Time Here. Picking wrong, or almost even worse, Picking a Good But Not Great Idea really s***s. Take your time. Do not choose something that can’t be big enough, or important enough. Ever.
- Do as Much As You Can On Your Own — Before You Build the Sellable Product. Just you or your co-founder. Take it as far as you can first, to as least validate things as much as you can. To at least get 20 potential customers to give you decent feedback.
- Commit to 24+ Months Just to Get to a Sellable Product, and 7–10 Years to Success. If you aren’t willing to do the time, you won’t succeed. Folks better than you, more committed, will win instead.
- Assemble the Team. Nothing else really matters once you think you have something. Second-time founders are really good at this. Not always the first point, however.
- Assemble Whatever The Initial Team Needs to Succeed. This could be angel funding. A designer. An extra back-end engineer. A marketer. Whatever.
If you can do all 5, it sort of has a high chance of success.
Published on August 3, 2016