Startup entrepreneurs road map to developing winning products: Why, How and What's Next

Entrepreneurship

Why, How and What’s Next

by Andi SieStartup Entrepreneur and Investor

WHY?

• Why Not (e.g., I want to be an entrepreneur because I hate my job and I want to try something else)

• Just Because (e.g., My parents and grandparents are entrepreneurs and so am I)

• Purpose**Purpose is beyond Passion, consider this the key to success that will help entrepreneurs go through hard times

Example:

In 2012, ~ 1 out of 3 Americans are considered obese, over 147 Billion in associated medical costs.Source: American Heart Association, Center for Medicare & Medicaid Services 2012.

Can we do something about this???

• Before

How about this idea to scare people away from consuming junk?

• After

Fat 40%

Salt 52%

Passion Driven Startups

Sport Bleacher Report

Home Decor Houzz

Design Pinterest

But we should look for purposebeyond passionExamples of Purpose Driven For Profit Businesses• Cliff Bar - Make food that makes the world a better place

• Google - Organize the world’s information and make it universally accessible and useful

• Kiva - Make food that makes the world a better place

See more: http://gamechangers500.com/

How to look for a purpose?

Be compassionate, then:

• Observe your surrounding

• Identify problems

• Challenge status quo

Look for opportunity within your domain

IndonesiaOpportunity Within

I found the purpose, I want to change the world, now what?

Over 90% of startups failed!Source: http://www.amazon.com/You-Build-Will-They-Come/dp/047056363X

Most founders failed to create the future with customers.Source: http://hbswk.hbs.edu/item/6591.html

Now you need to look for a winning product idea to deliver your purpose

Keep in mind…

How to identify a winning product idea for your next startup?

Use these simple I.T.C formula

• Impact – wholesome purpose ?

• Top Down – market size, customers, channels, cash

• Capability – leadership, ability to make the product

What’s Next?

• Positioning. Understand where you are at in life. Be aware and thankful of who you are, what you have and your surrounding

• Act. Don’t wait, take actions right away

• Measure. Measure your progress based on impact

Bonus: Free Winning Product Identifier

Scan the qr code on the left or go to: http://bit.ly/winningproduct

Connect

Andi Sie

Startup Entrepreneur and Investor

@andisie

[email protected]

andisie.com

Let me know how can I be of assistance