Entrepreneurship

Product-Market Fit V/S High Art

A tried and tested technique for internet entrepreneurs, especially those based in China, is this:
1 - Look up international comparable with unicorn potential.
2 - Perform extensive local search-engine queries to check organic traffic.
3 - Optimize and tweak business-model to fit observations.

Even if Step 1 is overlooked, Steps 2 & 3 are considered critical. E.g. if you want to start selling cakes online, then perform enough searches to verify traffic on the keyword "cake". Your findings may show great demand for blueberry cheesecakes; boom, that's your MVP (minimum viable product).

In other words, the market precedes the product. The grand-question of Product-Market fit is neatly obviated. You give people what they want. Why try inventing things which may or may not have buyers?

Of course, killer innovation may not happen. So some may question this method, and call it inferior to the conventional maverick route. But it's hard to imagine a sad billionaire. So the ends must justify the means.

The issue only occurs when you gauge artistic value of a business; all businesses are a form of art. I can't bring myself to digest the thought of an artist who Googles his or her audience's tastes, and tailors art accordingly.

 

Escaping Social Media

I wake up. My room has almost no natural lighting; so I can’t tell if it is 4 am or noon. My hand reaches out for my cell-phone. I look at the time – it’s okay, I’ve got time – and unlock the screen. I open Facebook – 10 notifications, Instagram – 6 hearts, and WhatsApp – where about a dozen conversations wait, and think about how I am Zuckerberg’s bitch. I open Snapchat for a stream that gets boring and loud too quickly.

I go back to sleep, but I’m restless. So I get up, wash my face and brush my teeth. And before heading for a bath, I open Facebook again to check for updates. Facebook is important for me, as I use it as a marketing vehicle. So part of what I do is work; I slip into the internet’s meaningless bullshit quite easily.

When I drive to work, I open Whatsapp because I see a white light glow on my phone. When I’m at a traffic light – 128, 127, 126, 125… - I quickly open an article to read. I read it in bits and pieces, only at traffic lights. I’m done with the article, and there’s nothing new on Facebook; so I catch up on some tweets. I don’t care about Twitter. They’re going down! But I have nothing else to do.

I reach office. While discussing plans with the guy who handles Digital Marketing, I open Facebook again to prove a point. I emerge from Facebook ten minutes later, having learnt nothing new. I check messages when I’m heading to the bathroom, in the middle of lunch, and sitting in front of the TV.

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Disgusted with my behavior, my spineless servility to social media, I decided to identify the root cause of the problem. And proceed to put things right. If you, like me, find yourself in the middle of unnecessary noise and unable to pull yourself out of the mess, then your problem might be this:

You have the inability to do nothing.

Busy is good. Busy is awesome. It feels good to have a bunch of things to do; we get restless when we’re not doing anything significant. Have you walked down the road with your hands in your pockets, looking at random passersby, wondering why you’re so jobless? Have you waited at a reception, or at a train-station or airport, and felt your time was worth something more? Have you ever felt insulted by a ticking clock? Do you feel disappointed when you’re not continuously multitasking?

We have been coached to think that still moments must be done away with! And your phone is your savior, as it creates to-do lists on the go. There is always something to be read, to be listened to, to be understood, to be done… but most of these things are unnecessary. Your life won’t be significantly impacted if you do not complete these tasks. On the contrary, even if you complete all these tasks – if you read all articles, keep up to date with your friend’s daily activities, stay on top of the latest views on a trending issue, and update your online personality – you won’t be much better off.

Time-fillers have found higher purpose in our lives. Have you ever had nothing to do, felt like your falling through a giant void, only to reach out for the cell-phone, seeking meaning from social media? The internet was conceptualized as a place where we can find responses to our every possible question. It has, however, the incredible ability to provide a constant stream of stimuli. Suddenly, we are responding the Internet. The Internet, in a twisted way, is the initiator of action, the subject; we are its response, or the object of action.

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I believe the cure to this annoying condition is in accepting the slow moments of life. It’s okay if you are aware of the sound of the ticking clock. If your hands are loose, by your sides, it is okay! If there’s something at the tip of your tongue, and you don’t quite recall it, you don’t have to compulsively look it up. If you’re waiting at a traffic signal, it is okay. You don’t need your phone; there’s nothing there.

We have been brought up to believe in buzzwords like productivity, networking and visibility. It has been ingrained in minds, to the point that we now feel crippled without a computer and a phone, without a regular dose of meaningless information inflow and output. But the solution is not in quitting these networks. No, these networks have a place in our lives. But like all problems, the solution to this lies in the middle-ground.

If you’re running a startup, you might well need Facebook as a marketing vehicle, or LinkedIn as a hiring portal. But you need to use them as precisely these tools. And no external help can help you. You need to believe that nothing significant can happen in the ten-twelve hours you choose to stay off social media. No one can say anything remarkable in your echo-chamber of views. Otherwise, the very tools you use to feel more productive will add you to an ever-growing list of insecure, unproductive creatures.

Remember this. You won’t cease to exist when you log off.

Leicester City's Title, A Lesson In Entrepreneurship

"Everybody knows Leicester is a Champion!"

Leicester City are champions of the Barclays Premier League, the most watched competition on the planet. And they've got by with a little help from their friends.

What makes this win magical, if not unique, is the tremendous 5000:1 odds that Leicester City faced. What makes this win unforgettable is that fact that Leicester City F.C. is much like a bootstrapped startup that went on to become a unicorn.

Ranieri - Never Give Up, Even At 64

For all those 30 under 30s, 40 under 40s, and impatient people expecting instant-gratification, there's a wise old fellow, who - at 64 - defied the common narrative: NO, AMBITION DOES NOT DIE WITH AGE. CREATIVITY DOESN'T DIE WITH AGE. GUTS DON'T DISAPPEAR WHEN YOU'RE FIFTY.

Those who watched Ranieri lift Chelsea into the Champions league, and then disappear into the European wilderness, to the point when he was kicked out of his job managing Greece, will understand the magnitude of his achievement. Perhaps he was lucky. But he worked hard for decades, manufacturing this luck.

Bootstrap, bootstrap, bootstrap.

You can buy ~25% of Cristiano Ronaldo with this amount

Leicester is functional. Lots of meat, little gravy. No fancy names, nothing flashy; just great work-ethic. Amazing strategy, and deadly execution.

This is what great teams are made of. Get help from family, friends... a little bit of jugaad. And then work with what you have. So what if you don't have an Oil-baron or a Sheikh funding you? If you have a vision, and a strategy to get there, you will find a way. With or without money. And you will learn a lot more with limited resources.

A team for a strategy. A strategy for a team.

Now that Leicester are champions, and Uber is a unicorn, there are case-studies to tell us how they got there. You can pay $200,000 to learn about these success stories if you want. And then you can do an Uber for X or a Leicester for Y. Or you can take your chances, and be your own Leicester City.

But case-studies teach you a thing or two, with the benefit of hindsight. Look at this infographic, for example:

Call it genius or call it dumb-luck, but Leicester knew themselves well and created tactics to maximise their strengths and cover their weaknesses. If you have a rockstar-developer, focus on creating a world-class product, but if you have a killer sales-force, your focus oughtn't be on the product as much as on an on-ground strategy to build your business.

There is no strategy that fits all; there is no team that fits all. But there is a strategy-team combo that will see you through to the finish. Find that combo.

Believe, always.

Believe in what you're doing. There is no place for doubt.

You can get there only if you've no doubt you can. Yes, you can tell the media and your friends another story. But when you're alone in your room, sitting on your bed, thinking about your startup, you cannot doubt it. There is a way forward, and nothing else.

If all else fails, find yourself a God: a religious deity, a preacher, silence, Elon Musk, or Science. Or get yourself some Thai Monks to help you out.

These are lessons in Sports and Entrepreneurship, and we - at Khelfie - cannot wait to put these into practice!

#Fearless #LCFC