For a techno-entrepreneur, start-up process can be split into these steps:
- OK...my job is NOT challenging/NOT fun/NOT paying me enough/NOT paying me at all...aka..NO job/do NOT want to work for a creep or all of these. So what do I do? I start-up my own company. ha!!! simple!!! (rate 5 on 5 for how easy it is..5 being really easy).
- Now I have to think of some problem that I would love to solve....ah..technologist just love to solve..... But then, this process is itself split into ------ > WHAT - energy, automotive, software, financial, environmental, health, retail...and for India loving guy like me -----> WHERE - India, US ...Antarctica(nay)..Hawai.....hmmm.......(rate 4 on 5 )
- Problems ...ah..opportunities listed....(not an easy nut to crack)....look for solutions...search around on internet if it has been solved....if the solution is better than ours ..better in term of design, quality, cost, name....if it missed out something that we can explore.........(rate 2 on 5 -- takes a lot of thinking, scribbling, rejecting and researching to narrow down something feasible)
- Phew!!! Opportunities shortlisted.... search for best possible solutions...this is more like building a concept to approach your objective issue in the best possible way..... (rate 2 on 5...not easy..but still, doable)
- Objective listed, approach to solution drafted....now go and do it tiger!!!!....and tiger does not know how to program in Java, or about windmill, or about solar cells, or about Indian market ....huh....and then you gasp for fresh air.... (rate 1 on 5 - need executioners in the team)
- But you still make it through by hook or crook to step 6......commendable....now is the time to sell your idea....hmmm.....VCs are Angels...but how to meet them...it is at this step when you have to draw that minimally used card....Connections, connections and connections.......how on this holy earth do I get connected to a billionaire....you gotta have flair baby...!!!! (2 on 5)
- Establishing connections is one thing...but impressing that angle by making a sales pitch......hmmmmm (1 on 5)
- Once you convince that angel about you being the best thing that's gonna happen to him, you have nailed the first part of making it to the big league ..... ...or atleast hoping that you will make it to the big league quickly...(1 on 5)
Thinking of a start-up does not come easily....One very commonly used punchline is " Where everyone sees a problem, an entrepreneur sees an opportunity ".......Everyday, zillion of people encounter problems in day-to-day life. These problems can be easily classified into two categories:
- Trivial issues, which, if not solved will not impact user's day-to-day life. A user normally accepts his fate and whatever is thrown at him e.g. if you have any laptop other than Mac and if you trip the battery charging cable, you can break or twist the charging cable. So what do you do? You circumvent around your laptop to avoid tripping the cable. But, in Macbooks, power ports are connected to a charging socket which attaches itself to the frame using a simple magnet. Flaw in design rectified by a brilliantly simple idea. (they need to come up for something like this for my iPhone - i have already got enough scratches near charging port while trying to plug it to power in dark and in car).
- Non-trivial issues, which, if not solved, will break peoples' hearts.... nay..but not resolving these issues will make the user cultivate a dislike towards the product or process........and you can hear people making some strong-statements against such a product/services/process....e.g Windows Vista did break my wife's heart...slow OS, rebooting issues and the list goes on and on....
Similarly, corresponding to the issue classification, approaches to the solving these issues can also be majorly classified in same way. But it is one thing to think of a solution and another thing to implement it.
- Simple Solution for trivial issue : Like what apple did with power.
- Simple Solution for non-trivial issue: Public transportation and a little change in public habits in US can result in saving fuel and hence, will enable protection of natural resources. (This is a simple solution to think, but a hard-one to impose, formulate and implement).
- Non-simple solution for a trivial issue: e.g Russian astronauts using pencil in rockets where US spent a large chunk of money to investigate the best solution to replace fountain pen (i think that they still came up with ball-pen).
- Non-simple solution for a non-trivial issue: e.g. health insurance plan in US or Social Security plan in India.
Once you have thought of an issue and an approach to resolve it in a way that it makes a perfect business case i.e. it is a cost-effective (for profit-making) and sustainable (for long-term vision), you are ready to implement it.....voilla...cook the broth!!!!
Now this is a hard-one for people thinking out of the scope of their expertise....but this should not act as a dampner...remember that Steve Jobs was never a Computer geek....but he had a penchant to understand how user would like a product to be.......Connections are very helpful and essential and can point you to the right direction or if you are lucky, then they may be willing to join your team.
Since, I have an experience till implementation stage before my team found out that some other team has an immense head-start in idea we were exploring, I am not at right stage to comment on further steps.....but yeah..that day will come.....
Lessons learned from my team's attempt to jump-start our start-up caravan:
- Include a s/w guy in the team (any other than automotive s.w)....so anyone interested...let me know...experience with Mobile technology/ web technology will be handy.....
- Get connected...seriously...will attend meet-ups and join Engineers Without Border, barcamp....
- Organize problem-search step in a better way.
My blog labeled 'start-up process' will run in parallel with my investigations and reports on various avenues and sectors with scope for development in India/US........