Opinions expressed by entrepreneurs’ colleagues are their very own.
The founders often talk about the “jump of faith” during the start of the activity. The expression, invented by the Danish philosopher Søren Kierkegaard, describes faith in something without rational evidence – assuming an uncertain result despite the lack of evidence.
My opinion? This is a terrible approach to starting a company.
For me, a jump of religion is like a jumping out of a plane without a parachute, assuming that you simply will likely be high-quality without any evidence confirming. Perhaps it is good that a herd of birds will bring you safety or a strong gust of wind gently deposit you on earth. Personally, I would favor to pack a parachute – which I know that it is structurally solid and will do his job.
Determining when the time has come to move forward with a business idea, it does not require a silly quick gliding in the unknown abyss. This does not mean that there will likely be no uncertainty. But if you’ll be able to meet the following preliminary conditions, your jump will likely be a more reliable step and you’ll not have to rely on faith: you’ll have facts.
Pre-Condition 1: You know who is ready to use your product
When I founded my company, Jotform, I knew exactly who would use the product that I wanted to build: me and all editors in a media company where I worked as a programmer. I used to be still receiving requests for forms, so I knew how vital they were for the company’s activities. I also knew that I used to be fed up with building them and that he had to be a higher way. And it was there.
As a co -founder of Y Combinator Paul Graham Place it“When the startup starts, there must be at least some users who really need what they do – not only people who could use it one day, but who want it urgently.”
Jotform is a classic example of scratching the itching. In my case, it was helpful for the winnings: even if my forms without code did not start, I still solved an annoying problem for myself, and at the same time continuing to download the payment during my every day work.
Pre-Condition 2: You can build your product
Say that you simply have an amazing idea for a home you would like to build – it should have various sorts of amazing functions, comparable to turrets, many balconies and a veranda. The only problem? You have never lifted the hammer.
This does not mean that it can’t be done. This means that you’ll have to learn how to do it – if possible, for someone’s ten centuries.
Before I began working on jotform, in my free time I built a handful of products, in addition to people who I did for my work from 9 to 5. In this work I also had an extremely priceless experience of getting a Saas product used by hundreds of thousands – it was called thecoounter.com and it was a form of Google Analytics precursor. Thecounter.com was originally released as a free product, but after a stock market failure, the company needed money, so I used to be accused of building a paid version. Making great decisions and having ownership of this product was the best education I could ask for – and I did all this, continuing to collect the payment.
Before I began working on Jotform, I already had many experiences that I needed to run them myself. I learned for all the pieces else when I went.
Pre-Condition 3: Your MVP is profitable
For many founders, their moment of “jumping of faith” comes when they abandoned their every day work, dramatically trading security for the freedom of entrepreneurship.
Not I. I abandoned the media company only after my side project – the profile tool that I developed – consistently earns greater than my payment. I spent six months building a free version of Jotform with only basic functions. When I released him, I knew that one of the two things would occur: people would use it or not. And if not, well, I wasted only six months and I might still have income from my side project.
I had a lot of confidence in Jotform, and when I quit my job, I worked on this with complete dedication. Although it could be disappointing if it failed, it could not be catastrophic. I still had other products, I still had my experience and I knew I might come up with something else.
Pre-Condition 4: You know how to reach goal users
This is a qualification that I didn’t actually meet, but if I knew higher.
Marketing does not come to me naturally, but when I founded my company, I used to be happy with my product and technology that I developed. Making PR was not too painful.
However, there are many ways to arouse interest in your product, even before releasing it. Find recipients and act on social media, through forums comparable to Reddit or establishing a blog. Even the best product will likely be DOA if it doesn’t reach people.
Starting a company does not have to be a reckless jump into the unknown. By fulfilling these preliminary conditions, you’ll be able to transform a jump of religion into a strategic, well-planned step forward-one supported by preparation, data and trust.