021Disrupt started off with a bang! As our first speaker, Guy Kawasaki graced us with a thrilling talk about the Art of the Start, and started it off by letting the world know that he uses a product that was incubated at The Nest I/O every day. Our pride and giddiness knew no bounds.
So let’s get started.
What are the 10 Key Principles of Entrepreneurship?
- Ask Simple Questions: Oftentimes, we think that the most successful people started off with just…wanting to take over the world, when in fact, they merely asked themselves a few questions, like ‘Therefore, what?’ or ‘Isn’t this interesting?’ ‘Is there a better way? Surely, there must be.’ Asking the right questions, however simple they may be, is what leads to great startups being successful.
- MVVP: It’s not just minimal viability, but also the value and validation of your product.
- Get Going: By now, we’ve all learned not to wait for the perfect time, product, team, or what have you. To be a good entrepreneur, you need to start where you are and work upwards from there. Start by doing something you know won’t be your best, just so you have something cringe-worthy to look back on to mark your progress; find complementary soulmates, and make a mantra that works for you.
- Define a Business Model: Don’t try to follow the business models of entrepreneurs and businesses that stumbled upon luck, and definitely don’t confuse luck with skills. Be specific about who your stakeholders are, keep your business model simple and most importantly, ask women. They’re much better judges of entrepreneurial ideas than we’re willing to admit.
- Weave a MATT: Figure out what your Milestones are going to be, figure out what your Assumptions are for yourself, your team and your business, Test your product thoroughly and ensure that you’re setting up Tasks to mark your progress.
- Tell your Story: Much of the time, entrepreneurs believe that in order to look professional, they need to strip themselves of anything that makes them human, and talk only in numbers, scaling, success, markets, etc. But it’s important to make it personal and talk about why your product or service came into existence; Use the 10-20-30 rule (10 slides, 20 minutes, 30 font size), and apply the Opposite Rule (is what you’re saying the opposite of what all your competition is saying, or are you merely repeating the same things in different lingo?).
- Hire Passionate People: If they don’t have the background or if their resume isn’t full of accolades, but their passion is tangible in the air, hire them. Hire better than yourself.
- Socialize: Many entrepreneurs dismiss the importance of a good social media presence. Make sure that as you work your way up, you’re perfecting your profiles with the right images, paying attention to the right comments, and try to embrace the Wikipedia model, which is that if you provide enough value through your content, no one will care enough to be offended about what you choose to promote or share.
- Seed the Cloud: Or in simpler words, Make it Rain. If the market tells you that your product will do something other than you intended, listen to the market! Take your product for test drives, and find the right influencers. Make sure it’s the people who do the real work, who push the decision, who are on your side, regardless of what their title may be.
- Don’t Let the Clowns Grind you Down: So much of the products and services that are part of our daily lives today were shot down by decision-makers, but just because someone thinks your product has no value, doesn’t necessarily mean that they’re predicting the future.
If you enjoyed this blog, check out the full video here.