Under no point of view is there a specific, clear and defined path to start our ventureHowever, there are factors to take into account and on which we can work hard and with dedication to give our project a better start with the ultimate goal of increasing the chances of success.
Let’s analyze together below the 3 (three) factors that were key for us at the time of undertake Online, basically in the first months of life:
1. The Business Idea
The first and most important factor is around our “concept”, that is, our business idea. The fundamental thing in the first days, weeks or even months, is to define if our idea is effectively solving a problem for our Potential customers or not.
Associated with this, is the point of balance in which we must know if our users are willing to pay or not for this product or service and how much?
From this point, several derivations may arise, among which we find the possibility of “pivoting” our idea based on the feedback, comments and suggestions of our clients.
Let’s remember: no business idea passes the first contact with users intact, we must have the predisposition to change our concept in relation to what our future Clients really want and need.
2. The Cost of the Project
Nowadays, the cost to carry out in the first instances a entrepreneurship on the internet is almost minimal, so search investment capital it goes from a primary plane to a secondary one and what remains as a priority is our TIME.
Exactly, to begin and carry out the previous point efficiently, we must consider our time, our effort, our dedication as the outstanding factor.
We must find the times of the day (if we can do 24 hours better, otherwise we will have to alternate with our work in the form of dependency) to dedicate ourselves to developing the first prototypes, the first functionalities, the first ideas in operation so that we can then sit down together to our Potential Clients and observe how they interact and even what comments and suggestions they have to offer us.
And from there, go improving our product and service day by day until reaching the desired end: “A solution to a concrete and real problem, where the Client is also willing to pay for it”.
3. The Development of our Prototype
After advancing with the previous steps, we must develop our “minimum viable product”, this means, we must focus all our time and our effort on carrying out the product or service with the most primitive and basic functionality necessary in order to provide the final solution to the customer (then there will be time to improve the design or to add more functionality.
From having our Prototype in correct operation, there are two main ways to follow, but it is already a fully personal matter: a) we can raise capital / investment or b) we can start looking for our first clients who obviously pay for our work and iterate and grow organically with them.
In our case, we choose the second option, however, it is a totally personal choice and to be honest, the difference of success or failure is NOT in this last decision, but in the correct and efficient implementation of the three previous steps, there it is where we should focus 100%, which are the foundations of our Entrepreneurship.
Guest Author: Eng. Cristian Rennella Co-Founder of . together with Eng. Amiune Hernán with 4 years of experience in Argentina, the First Online Insurance and Credit Comparator. At this time focused on expansion throughout Brazil with oMelhor. Seguros y Credits. For the coming year, 2013 they are designing their beginning and first steps in Mexico.
More about undertake online: