Surprisingly enough, there are many young entrepreneurs who don’t know exactly what they want to achieve with their business. Great product idea, agile development skill, and abundant resources are all good only if you know what you want to do with them. Know following three items before you intake any venture project-
- Target and core customer base
- Problem you want to solve
- Key components you have to deliver
In order to maintain high level of focus, “knowing what you want” is quite important to keep you moving forward. This is something that other people cannot easily help but you.
Building a new venture is like rock climbing. Three lessons we learn from rock climbing:
1. You have to be physically ready to climb.
Preparing a plan and setting your goal is one way to make yourself ready physically and mentally.
2. You have to choose a good rope.
Your rope is lifeline. Never underestimate your budget to find a good gear when you climb the rock.
3. You have to know when to climb.
Going against horrible weather condition is such a bad idea. Never make your stamina burn too fast with imminent threat.
(Presented at the recent entrepreneurship workshop for early stage tech entrepreneurs)