Business Plan, market research, competitive advantage, market share, growth plan … etc, always these definition often required in applying for any project either its a proposal for investor or sponsor. However they ask you to have a quick pitching and then they get into details.
This pattern become engaged in big form with “Entrepreneurship” , “Accelerators”,”Incubators” but is this realistic, and is it required for success idea
I would like to talk here on the tech world that i have been involved many years in the field that is very quick in development and change. Market research and business plans and plan in entering market and get a quote is good thing and may get reaps dividends, while this not happened until we enter the market and update the plans many times and adapt the business pattern, because there is no plan work from the first time in business !
Thus we will need to change the plans continuously, and adapt the business pattern why should we get into too much details and documents before enter the market, why not to start now !
Entrepreneurship become a trend and a space for advertising in a way that lost the main content, therefore many words are being used tacky way and with will known steps “full study, quick presentation, winning incubation, incubation, work hard and hard, you win””
But the reality is this proof failure from different aspects:
1- the selected people are new in everything “technical,business””
2- The selection panel are academic or has no relation with business
3- Build the fund based on the studies not the idea
4- The fund is based on “competition”
As the miss understanding of the “Entrepreneur”is the active guy who get the fund, or who works at home or garage and this is very limited understanding and this what was mention in The Lean Startup Book
Therefore it confirm that entrepreneurship not related to a place. However it may be a big company or an individual in any place, as we can define it simply as the ability of work on something uncertainty, like build new product..etc.
Creativity, innovation and risks excel !
The alternative of having too much documents and plans and think of get a quote of the markets is the creativity !
Creativity give freedom and leave the war between the competitors and their quotas, further it create new market. for example people was not pay too much in phones since Nokia was demonstration the market and have shares and competitors with motorola and erecson, while when new innovative phone come to market like iphone people pay double and triple the price to get new phone instead of the expensive price. However this create new market and money that it never paid in the past.
And this what Elon Musk confirm the founder of paypal, Tesla Motors and many other .successful business while he still in fourteens age further there are many entrepreneurs succeeded based on creativity and innovation.
Thus we say market research is important with the importance of quick entry, for example open new women store need to have place that women can access easily, and this is done through fast read of the idea and select its options, limitation and prioritization.
Should it be new absolutely !
for sure no, therefore it can be a little change in something, or develop something in different way, or implement in different place is creativity, for example facebook was not the first social network but there was Myspace and Hi5 and many others, but what the facebook made is to add more features and properties. Also take the risk and leave the trends are a big part of idea success, as the experiment and quick prototyping and enter the market give you the right plan.
What to innovate ?
there is no limitation for innovation, but through take a general over view the people are willing to pay for saving there times However apply ideas in tech world that save people time are often succeed.
Best wishes, until the next blog.