#252 Entrepreneurship & Business – S1 E12 – Think big, start small

For sure, this idea we are currently having in mind, this is definitely it! We are convinced, that this time we have the right product, service or what ever it is. This time, we will make it!

But the thing is, as we have learned so many times in the past already, things seem to change over time. On the one day, we think that this is the best idea in the world, but on the other day, it feels like the worst idea someone has ever come up with. But seriously! What the hell? What is wrong with us? Why is the idea sometimes awesome and let us work on it 24/7 but on the other day we are asking ourself “What the fuck we are even doing here?”

Well, I guess, nothing is really wrong with us, but this is just how it works, this is how we think. When having an idea, we tend to ignore the whole picture about our new thing. We are just focusing on the good things, the stuff that really makes the difference this time all together. We are too enthusiastic for our product, but that’s never a bad thing, right? Well, I guess, it depends.

In the end, you need to understand one important thing in order to finally have an awesome product your customers really like. But not even that, they need to love it, they shouldn’t be able to live without it. There needs to be this “wow effect!“, but not just once when purchasing it, but actually every single time they are using it! You need to surprise them every single day! You need to overdeliver!

Our customers are most likely people like you and me. For sure, they are not all completely the same. How boring would our life look like otherwise!? Therefore, you need to actually understand them, you need to analyze them, you need to be able to think like them.

For sure, in order to do that, we definitely need to change our perspective. We need to get into the head of such a customer. What do they really feel when interacting with our product? When seeing our commercial? When reading something about us?

You are right! Why don’t we just ask them? It’s as easy as that. You share your product with a lot of people and analyze their behavior. Sounds like a great idea! I mean, what could possibly go wrong?

Actually a lot! The biggest mistake might actually to ask your friends and family about their opinion. But what do you think will they tell you? I don’t know if you are having a good and supportive family or not, but most of the time they will not tell you what you really need to hear, but instead what they think they can tell you in order to do not make you feel unhappy. But where is this leading us to? To the perfect product? No! Definitely not! Therefore, you might ask them in order to show to them that their opinion is somehow important for you, but actually, you need to ask people that do not have a problem with criticizing you at all. You need to find people that are not emotionally connected to you and therefore tell you what ever they think you definitely need to hear.

Yeah, you are right again! That is really not that easy! But it is the only way, right? And come on, don’t forget, we are living in the 21th century. Never ever in history, was it that easy to connect with other people.

But of course, do not dare to stop after this! Because that will not be enough! You can not just stop there right in the process and try to make some changes based on that information you have collected.

In fact, you need to go through the whole process again and again. Who is your customer? What do they like? What do they don’t like? What are their problems? Where are their strength? What are their weaknesses? What do they accept? What do they don’t accept? Go through the whole interacting process your business might have with them. Maybe you have a kind of an online shop. How does the situation look like? How much time does it take for them to purchase your product? What can go wrong? How can you deal with these issues? Is there a customer service? Can you do that? Do you want to do that? Or do you want someone else dealing with these issues? What is the main philosophy you want to project onto your customers?

As founders, inventors and entrepreneurs, we tend to think that we need to manage everything by ourself. But that is neither very practical, nor even possible. Therefore you need to figure out where your expertise really is focused on and let the other things for people and companies that do this as their passion. I know, this feels like a very hard thing to do, but actually is the only way how you can deal with it.

But don’t get me wrong on that again, at the beginning, it is even better if you do everything by yourself. That way you will notice things, that otherwise would stay hidden for a long long time, or even for ever.

Think big, start small!

In the modern business world, the term Minimal Viable Product (MVP) will be the thing you need to focus on. But I personally think, that this is not enough either! Just making a light package of your future product, for sure, this will help you to figure out if people will accept the product on the market or not. But don’t make the mistake again and try to stop there. What you need to do is interacting with your customers, ask them what they like and what they hate. Ask them what they would have made differently and why. Figure out what your customers really think. Because you can sit there all night long, making your own thoughts about what they may think about your product. But in the end, they will have a completely different mindset and therefore come up with a completely different story about your product. They may will not get the message you are trying to send out into this world, but instead come up with a completely different point you haven’t even realized by now.

Therefore, think big, but start small. Don’t invest too much money in this thing, before you actually have a clue about the fact if it is working or not. And again, don’t get me wrong on that! You will make mistakes. You will notice problems, issues and things you did not have on your list. But that’s gonna be very expensive. Therefore you need to learn from your past mistakes while we are not talking about the really big numbers here, that are laying on the table.

Improve upon your weaknesses and make this product as perfect as possible.

It doesn’t matter if you want to start a business, go into the gym or learn a language. You can always improve upon something. You will always learn something new. You will always make something wrong. But that doesn’t need to stop you right there in the process. Just realize where you are currently standing with your product and take the next steps accordingly.

You want to make 1 million a year? Sure, that is an ambitious goal, but first you need to make your product as perfect as possible.

See you next time!

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