As entrepreneurs, we are paid for bringing value to the market. Not for our time.
Stop thinking about hourly rates and money. You should be looking at solving problems that thousands of people may not know they have. Once you found the solution, try to build a sustainable and scalable business around that.
I know it’s tempting to start thinking about your app, designing every detail and diving into the tech stack. It’s exciting to start planning different product pricing packages. We even wrote an article about different ways your app can make money. I urge you to stop! Seriously stop right now and tell me in a single sentence why should your customers use your product. In about 30 seconds, tell me what value your solution brings to my life.
If your customer is in pain, tell me why they should buy your medicine instead of your competitor?
At the initial idea stage, you want to go as fast as possible, and it is hard to stop and think. Trust me; it will save you a lot of time later on if you focus on what matters the most - your customer. Showing your customer how valuable your solution to their problem is. I’ve seen this happen too often where young entrepreneurs want to develop their excellent idea and they ask a few friends and family members what they think about it. This is where customer research and user stories pay off.
“Build your app prototype first and then ask real customers for feedback.”
The idea of an awesome investor pitch deck is to showcase the value of your solution. Not the impressive features of your product. Show your investors that your idea already works. For that, you will need to sit down and focus on the value your product brings. And if you are not sure, you have to go back to the drawing board and start again.
Simple! By being useful and helpful. Begin with your customers. Create user personas modelled on your current customers or made up and use those avatars to build user flows. That’s a fancy word for showing how a potential customer would use your app. But not only use, what sort of difference your product makes to them. How does your product or an app change your customer lives? For example, does it save them money or time, does it help them protect the environment in some way? Even better if you can show your concept to some early adopters. That’s the key to a successful startup right here.
“Whatever you do, you need to focus on providing value.”
Example of customer avatars:
Example of value proposition:
I’m sure you recognised UBER as our example
And lastly don’t forget to ask your real, paying customers. Find them online. Social media would be an excellent start for search. Of course, to know who and where to find you need to define your ideal customer first. Then find them and ask them to help you build a better product. Ask them to help you shape your idea into a super mega awesome product with fantastic value.
Don’t make the same mistakes most startups make. It’s not that hard to focus on your customers and their problems. After that, you can do everything else, and building a successful startup will become a much more enjoyable experience.
If you’re running a new startup with a product that’s not selling, the same thing is probably happening to you. Chances are you’re trying to sell a product, but you haven’t thought about who your audience is or how to access that audience. In other words, you made the biggest mistake that most new entrepreneurs make: you built a product before you established an audience for the product.