StartupSutra – 3 – Startup is now or never!

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I found out that motivation to startup is very fickle. The more you postpone or procrastinate, the difficult it becomes to startup. I experienced it all throughout my failed startup experiences. The best way to know whether you will be successful or not is by trying itself, there is just no other way. I understood it the hard way.

Before starting up your idea:
  • Brainstorm

I understand it is a very commonly used term but indeed is very important. You can’t pursue an idea without having a clarity about what you want to do. As per so many successful entrepreneurs, the success rate of startups is high when the vision of the startup is in itself the passion of the entrepreneur or a problem that an entrepreneur is facing. And, this is because, when you’re passionate about it, you don’t require an external motivation to pursue the idea. Believe me, this motivation is really very important and one of key driving factors of startup’s success.

How do you brainstorm and decide the viability of an idea?

Frankly, a successful startup will make you rich and earns you a lot of respect, power, and satisfaction. But, that shouldn’t be your only motivation. I think, these all things are merely consequences, but the real motivation is what that you need to ponder upon. In my opinion, the question you need to ask yourself is, “why am I pursuing this idea at all?”

If you’re satisfied with your answer then you’re almost good to go. But, one important thing to pay attention to, when you’re asking the above question, is to question whether the idea is SMART or not.

S – Specific – Initially, it is recommended to have an idea’s domain to be as specific as possible.

M – Measurable – The idea should be measurable in all dimensions.

A – Achievable – Self-explanatory!

R – Realistic – Self-explanatory!

T – Tangible – Your idea should be tangible, even when is path-breaking.

  • Market-research

The second important precursor for any successful startup is market-research. It drags you to the reality of the world. Market-research decides whether your idea is viable to pursue or not! At the end of the day, no matter how motivated you are, it will be just ignorance to pursue an idea knowing already that all effort will be futile! So, get motivated and then do proper market research to validate the viability of your idea.

I’ve already written a blog post summarizing a part of market research! Go check it out!

Startup your idea:

Personally, this was the toughest thing I felt in all my experiences trying to startup! I read an answer on Quora –

Success of any startup = idea * implementation,

where, Idea is on the scale of 1-10, best being 10.

Implementation on the scale of 0 – 10,000.

0 being no implementation at all and 10,000 being the best implementation.

The above equation makes awesome sense, so, even though you have the best idea in this world and have no implementation at all makes the whole startup a failure.

I think, gratification is what makes humans do what they do, and motivates them to persevere. And, most of the ideas fail to see light, because they are never persevered and hence are never gratified. I suggest, pick an idea, which is really easy to implement, easy to persevere – minimum viable product (MVP). So, make an MVP, release it for early adopters and start getting feedback to decide whether to pivot or persevere with the idea. The best part of this methodology is you will see instant gratification which motivates you to continue pursuing the idea. We will have an entire blog post on what is an MVP and why is it important.

So, summarizing the article, we can draw few points:

  1. Brainstorm an idea, decide why you want to pursue it?
  2. Validate the viability of the idea through market research.
  3. Start implementing the minimum viable product to get feedback and to stay motivated.
  4. Most importantly, it is now or never!

In the next article, we will be describing how to start up an online business – the perks and perils of online business.

 

 

  • Gangadhar Doddi

    {
    Success of any startup = idea * implementation,

    where, Idea is on the scale of 1-10, best being 10.

    Implementation on the scale of 0 – 10,000.

    0 being no implementation at all and 10,000 being the best implementation.}

    Well Said…

    • anandgorthi

      Thank you Gangadhar.. 🙂

  • Anusha

    “Now or never”, very well said. And the equation seems very valid. Keep going!

    • anandgorthi

      Thank you!

    • anandgorthi

      Thank you Anusha!

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