Art0003 – Beating The Odds
February 14, 2012
UL0003-Not So Smart Money
February 16, 2012

The Process of Transformation 2

To plan is one thing, to execute and implement is another. Plans made should be executable and should be ready to be implemented to its best level.

For this it would be best to break down your strategies and plans into detailed steps.

An example would be:

Social Media Marketing Strategy for Online T-shirt Business

  • Sign up for Facebook (Pages, Groups), Twitter, and start a blog.
  • Every time a t-shirt design is launched on the website, write a small back-story of the design on the blog, then share the links on Facebook and Twitter.
  • Put up designs 3 times a week – Monday, Tuesday and Friday
  • Target the times where Facebook and Twitter have lots of traffic.
  • Reply all comments and queries

Avoid taking shortcuts in the planning phase. The more bases you cover, the less likely of a chance of you being surprised by problems. It is easier to execute the smaller steps than to have one big overwhelming block to climb over. Imagine if for the example above, I had just written use ‘Social Media to Market Business’. That would cause a lot of confusion; there would be no understanding of where to start. Having a system gives you the discipline to get the work done better, and it also becomes easier for someone else to take over.

A Different Perspective
Many a time you will get caught up in the excitement about how great your idea is. It will really amaze you and you may tend to overlook certain things. In some cases you may not notice that your idea may not actually be viable.

The best thing to do is to start asking lots of questions. Question each and every aspect of your business, from operations, business models, revenue models, target market, market acceptance, finance etc… The more doubts you resolve, the smoother the process will be.

As mentioned above, it is very easy to get caught up in the rush of a startup. It can be very exciting and you may be so emotionally involved, that you can overlook many things.

There are 2 ways to go around this;

  1. Get Friends, Family and Strangers to Test Your Product
    It is important to test our your product through people who will be your potential customers and people who will give you proper criticism.Having proper feedback will help you to improve on your product. Getting people to test as if they were customers, would enable you to get feedback as if you were catering to real customers. This is why many companies offer beta launches. It helps them get would be customers to test and give feedback on the product. Also the company would be able to identify any problems in the systems before a full-scale launch.

This feedback and critique can really be beneficial before a launch. It will help you get market and customer insight. Entrepreneurs can sometimes be blinded by their own emotions about their products that they may fail to see its flaws.

Having external parties test the product would really help improve it for the mass market.

2. Become a Customer Yourself
An entrepreneur should always ask; Would I use the product myself?

Why create a product that you yourself will not use?

There will come a time in your planning where you would have to take a step back and look into your work. It is always good to view your product as a customer. Detach yourself emotionally from your work and start scrutinizing, as if you paid for the product as a customer.

For EntreCity that is what we did. We sat down and went through each and every product the company would offer. We listed down why we would subscribe and pay for each service. We also talked about why we would not subscribe to any of the products.

This helped us figure out what was working and what was not. Having this knowledge, made us tweak our products to become better.

The thing about implementation is that you may not get it right on the first time.  “If your first version is so impressive that trolls don’t make fun of it, you waited too long to launch.”  – What Startups are Really Like, Paul Graham.

The idea is to keep improving your product with time. Launch with a less than perfect product, then keep tweaking and improving it with time and data (feedback). People appreciate improvement; it shows that you are working hard to please. Also keeping a flexible product helps you to change with the market’s needs and wants.

Understanding the concepts in the past two articles will help in transforming your idea into a business better. Remember, if you release a final product on the first day, it will be the end of your business, as there will be nothing else left to do. Keep updating and improving your product as more feedback comes in.

13 Comments

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    • Udin says:

      A lot of these companies have the same onewrs and underwriters. Sounds like you are already in over your head. These are designed to put you in a trap that will be very hard to recover from. Pay off your first loan ASAP and never get one again.

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