PART 2 – The Idea

things that
I learned
from my
startup
experience
Suhas Dutta
“
”
JK Rowling’s speech at Harvard Business School
So far…
• We went through the basic building blocks for ideating
your startup, thinking about how to get it up on its feet...
I have this really smart idea…
• Sure, and perhaps a dozen
other people have the same
(or very similar) idea.
Getting to b...
I have this really smart idea…
• Pilot / Prototype - Only
way to figure whether it
will work or not is to
start working on...
Quick segue…
Ideate

Validate

Basic ideation cycle

Check
Fitment

Prototype
/ Pilot

Product

Business

Basic startup ex...
I have this really smart idea…
•

Ask yourself these standard questions
–

Again – what problem are you trying to
solve an...
I have this really smart idea…
• Does your idea appear
smart to other people as
well?
• Discuss your idea with a
few
like
...
SMART
I have this really smart idea…
• Go find a potential
customer and speak
with him /her about
your idea to verify
whether yo...
I have this really smart idea…
• …and locate a person who is
seasoned from the area
/industry you will be working in
or
pe...
• Now that we have gone through the Idea
stage, go on to Part 3 where we shall go
through the planning, and starting up.
• Have questions or feedback? Write to me.
• If you need a bit of help in terms of mentoring, reviewing
material, vetting ...
OUTSOURCING STRATEGY

IT ADVISORY

LEARNING STRATEGY

RETAIL

OFFSHORING STRATEGY

PROCESS ENGINEERING

TRAINING

CONSUMER...
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30 things: Part 2/7 - The Idea - 30 things that I learned from my startup experience

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The previous deck [http://www.slideshare.net/suhasd/30-things] was the introduction on the structure of what I am sharing with you, and what you could learn from these seven decks. The decks are broken down by:

Introduction (deck 1) [http://www.slideshare.net/suhasd/30-things]
Idea (deck 2)
Starting ( deck 3) | Executing (deck 4)
Funding (deck 5) | Marketing | Selling (deck 6)
People | Emotions | Learning (deck 7)
Results
This deck is on the Idea where I shall attempt to talk about what to do when you get the Idea, and when you get the entrepreneurship itch. How do you start running with it. What do you protect against. What are the potential pitfalls

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30 things: Part 2/7 - The Idea - 30 things that I learned from my startup experience

  1. 1. PART 2 – The Idea things that I learned from my startup experience Suhas Dutta
  2. 2. “ ” JK Rowling’s speech at Harvard Business School
  3. 3. So far… • We went through the basic building blocks for ideating your startup, thinking about how to get it up on its feet, getting it to run and so on. Idea Starting Executing Funding Marketing Selling People Emotions Learning Results • Lets dwell on the “Idea” a bit.
  4. 4. I have this really smart idea… • Sure, and perhaps a dozen other people have the same (or very similar) idea. Getting to be the first mover certainly will improve your chances of success. • Ask yourself without emotion - Will your idea solve a real problem in this world? If you do not have a clear answer as to how…then your idea is not well formed yet and needs more work.
  5. 5. I have this really smart idea… • Pilot / Prototype - Only way to figure whether it will work or not is to start working on it, and prototyping. This could be the product, or the service that you will provide. • Start small, but do the pilot test. You don’t have to jump into the river right away. Ideate Check Fitment Prototype / Pilot Create Product / Service
  6. 6. Quick segue… Ideate Validate Basic ideation cycle Check Fitment Prototype / Pilot Product Business Basic startup execution cycle Plan Validate
  7. 7. I have this really smart idea… • Ask yourself these standard questions – Again – what problem are you trying to solve and for who? Does your solution fit? – Is your solution the first of its type? Has someone tried this before and failed? If that someone has failed, you definitely do want to know the “why”. – Will you have competitors? How will you be better than a competitor? – Will someone actually be willing to pay for your solution? Who is your final customer? • Clear answers to these should provide you good insight. • If you are unable to get clear answers, you need to revisit your idea.
  8. 8. I have this really smart idea… • Does your idea appear smart to other people as well? • Discuss your idea with a few like minded individuals, who either know the industry, have decent general business sense or understand the complexities of the technology that you might be dealing with. • Don’t be discouraged by the naysayers.
  9. 9. SMART
  10. 10. I have this really smart idea… • Go find a potential customer and speak with him /her about your idea to verify whether your product /service is perceived to solve a problem. • Besides feedback, you might get ideas on additional features for your product /service.
  11. 11. I have this really smart idea… • …and locate a person who is seasoned from the area /industry you will be working in or perhaps has done something similar before. Someone who can show you how. • This person could become your mentor too. Try to stick with the same mentor for a longish duration unless there is something seriously wrong in terms of advice. • BTW, beware that many of these kind of people will refuse to mentor you if you haven’t done the prototype yet.
  12. 12. • Now that we have gone through the Idea stage, go on to Part 3 where we shall go through the planning, and starting up.
  13. 13. • Have questions or feedback? Write to me. • If you need a bit of help in terms of mentoring, reviewing material, vetting a plan or the like…I would be happy to help a fellow entrepreneur start her/his journey. It will cost you just a cup of coffee. • If you have already started and could do with some strategic advice, helping create your business plans or your investment pitch, marketing strategy, fulfill your company’s training needs, need advice on the pitch etc, please feel free to reach me. • My coordinates are: – reach@delhigate.com – linkedin.com/in/suhasdutta/
  14. 14. OUTSOURCING STRATEGY IT ADVISORY LEARNING STRATEGY RETAIL OFFSHORING STRATEGY PROCESS ENGINEERING TRAINING CONSUMER PRODUCTS CIO ON TAP PROJECT MANAGEMENT CONTENT DEVELOPMENT STARTUP ADVISORY +91 9980711477 | +91 9980525553 reach@delhigate.com

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