I just read Guy Kawasaki's manifesto, The Art of the Start, which outlines the 5 most important things for an entrepreneur to accomplish.
1 MAKE MEANING. The best reason to start an organization is to make meaning—to create a product or service that makes the world a better place. So your first task is to decide how you can make meaning.2 MAKE MANTRA. Forget mission statements; theyʼre long, boring, and irrelevant. No one can ever remember them—much less implement them. Instead, take your meaning and make a mantra out of it. This will set your entire team on the right course.
3 GET GOING. Start creating and delivering your product or service. Think soldering irons, compilers, hammers, saws, and AutoCAD—whatever tools you use to build products and services. Donʼt focus on pitching, writing, and planning.
4 DEFINE YOUR BUSINESS MODEL. No matter what kind of organization youʼre starting, you have to figure out a way to make money. The greatest idea, technology, product, or service is short-lived without a sustainable business model.
5 WEAVE A MAT (MILESTONES, ASSUMPTIONS, AND TASKS). The final step is to compile three lists: (a) major milestones you need to meet; (b) assumptions that are built into your business model; and (c) tasks you need to accomplish to create an organization. This will enforce discipline and keep your organization on track when all hell breaks loose—and all hell will break loose.
I love #2... which makes sense, given the name of this blog and my company. Guy clearly outlines what I"m in business to do: help bring simplicity and clarity to the purpose of an organization. He gives a few examples of great mantras:
• Authentic athletic performance (Nike) • Fun family entertainment (Disney) • Rewarding everyday moments (Starbucks) • Think (IBM) • Winning is everything (Vince Lombardiʼs Green Bay Packers)
The only thing that Guy doesn't really address in his manifesto is the customers' viewpoints. He does recommend, "close your eyes and think about how you will serve your customers. What kind of meaning do you see your organization making?" Yet I often find that what is envisioned by company owners is different from what customers actually want. Two common and erroneous assumptions are:
1. the company owner thinks the same way as his or her customers.
2. the company owner's opinions are equal to the average opinions of hundreds (or thousands) of customers.
So even if an entrepreneur sells products or services to other entrepreneurs, that does not mean that he thinks the same way as the vast majority of his target audience. His ideas might place him at the far end of the bell curve. If you're not completely confident that you're solving the important unmet need, spend the time to make sure you're in the right track. (For example, competitive telecom providers thought they were solving the need for "cheaper"... but they didn't realize the need for "great customer service" was more important.) There are cost-effective ways to understand the mind of the market: just start talking to people about their frustrations and needs. Quantify your learning by using a free survey site like SurveyMonkey. Do some research on the web to find published statistics on your market. Or spend a bit of money for an industry report. Usually investors will want to know that you've done your homework.
Other than this point, I love how Guy has clearly outlined how to make meaning and mantra. Just for kicks, here's my very first blog post that talks about the reason for my blog & company name. Guy and I both use the same dictionary definition of mantra. I'll be flattered if he used my blog for input :-).
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