Big News: FounderDating is joining OneVest to build the largest community for entrepreneurs. Details here
Latest Notifications
You have no recent recommendations.
Name
Title
 
MiniBio
FOLLOW
Title
 Followers
FOLLOW TOPIC

Question goes here

1,300 Followers

  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur
  • Name
    Entrepreneur

A lot of great ideas, but what next?

I always thought I am set out to be a serial entrepreneur. After so many great ideas and a few attempts, I am starting to think otherwise.

To be honest, I always find myself dropping the ball and calling it quits at the same point every time. I come up with an idea, I research the hell out of it and learn the market, register a domain name & build a website, then....... I don't know how to proceed.

Does anyone have any advice? I've read so many books, so please give it to me straight

42 Replies

Bill Kelley
8
0
Bill Kelley Entrepreneur • Advisor
Business Mentor
This is a common problem. An entrepreneur needs to have a 'fire in the belly' to carry him/her over that threshold. You go farther than many -- who just have the idea and stop there. You may not be an entrepreneur at all. That's not necessarily a bad thing, as successful entrepreneurs can be pretty close to sociopaths in their behavior.

If the issue is not running out of steam, but rather running out of 'process,' any number of people can advise you on next steps.

But the truth is, the domain name and web site are premature without a business plan. That comes first. A good business plan will drive you to product/service definition and a process to create, test and launch it. That is the most important (and hardest) task.
Andrew Tan
3
0
Andrew Tan Advisor
Fall 2015 Class Company at Boomtown Accelerator
Do you ever proceed and launch the site and make sure to have user acquisition strategy and analytics (google analytics/mixpanel/kiss metrics etc) to back it all up?

I think it is hugely valuable to ensure that you have both to see if you are speaking to a market that has a need- once you see product/market fit backed by some solid metrics that is usually enough to keep you motivated and going.

Gluck!
Jacob Kojfman
0
2
Jacob Kojfman Entrepreneur • Advisor
Experienced technology and corporate lawyer, focusing on SAAS
Find a business-type partner who can help identify your sales and marketing strategies; find customers to test the MVP; refine a bit. Jacob Kojfman 604 318 4539
Trevor Collins
10
0
Trevor Collins Entrepreneur
Crowdfunding Entrepreneur & Co-Founder of 100 Danish
To be honest, the founder entrepreneurs I've met who launch and grow big things are extremely action-oriented. They have an insatiable hunger to advance the cause of their project.

It is more than okay to not be the idea-generator and original starter. Go hunt out a founder with a killer idea and join them. See how you can add value. Watch how they recruit people and resources. Then watch what they do when they hit obstacles. The good ones will relentlessly figure out a way to make things happen. Join them on the rise and see what they do right and what they do wrong.

Then decide if it's in your heart of hearts to be a serial entrepreneur. If you can't brainstorm for an afternoon and generate 20 action items of how you might proceed after you set up your startup cosmetics, then this learning period is likely needed. Best of luck!
Mohamed Nasr
0
1
Mohamed Nasr Entrepreneur
Business Coordinator
@Billy - Great knowledge. I am a bit confused as to what a "Business Plan" means these days. The SBA advises to build the million page business plan, Steve Blank advises to build a one page Business Model Convas, while others say a business plan isn't even needed. What's your opinion on that?

@Andrew - Unfortunately, of the dozen or so ideas that I've came up with and started, I've sold zero. The closest I have been was with a mobile app that got 50 active installs.
John Skelly
2
0
John Skelly Entrepreneur
Founder, CEO at GasAnywhere
Been there. I think what's helped me is to focus on clearly defined, attainable goals that sit behind concrete deliverables and milestones. Also, I've also found that holding myself accountable with other people to be very motivating. If it's just me, I'm far more likely to peter out and let an idea die. If I get involved with other people, things tend to keep moving forward unless we come to a dead end on the idea.

You'll get better as you go in qualifying whether your idea has any true legs, earlier in the exploration too. Things we'd have spun months or years on in our 20's will be DOA given hindsight and wisdom. Don't give up!
Rodger Raderman
4
0
Rodger Raderman Advisor
Partner at aBgency, Co-Founder & Director at Obscura, Co-Founder at miraclefeet, Founder at Nukotoys, Founder at IFILM
Jason Calicanis wore a T-Shirt at Disrupt one year, which sums this issue up pretty well:

"Starting is easy. Finishing is hard."
Bob Crowley
14
0
Bob Crowley Entrepreneur • Advisor
Investor, Entrepreneur, Athlete
I've found we've a tendency to lump ideas, founders, builders and operators all together as an "entrepreneur", when really they are distinctly different and rarely all one person. Maybe you are one or more of these. I'll explain.
Ideator - a problem solver, who can't help but see issues and conceive of solutions.
Founder - an Ideator who takes action on his/her idea(s) by creating an actual product or service
Builder - a Founder who constructs a business plan to proliferate the product or service to defined markets
Operator - a Founder who takes what the Builder has done and scales the business.

It's rare that one is all of these roles. More commonly, a person is best suited for one or two roles ( for example it's common to see Ideator/Founders - who get stumped at the Builder stage or a Founder who is darn good at being a Builder for the first market - proof of concept, but struggles with the skills to be N Operator and scale the business).

At each step along the way, if you've the self realization as to where you fit in this spectrum, it will help you identify the kind of talent you will need to take your idea, product/service or business to the next level. Maybe you are one of the few lucky ones who can spam all these roles - if so, then you've an exception career ahead of you. It's no shame if you are not - that would be the norm and there are many famous leaders who have struggled to maintain leadership in their businesses as the needs shifted. It's in the knowing what your strengths (and weaknesses) are and thus where you fit, that will lead to your ultimate success. Good luck.


Hope this helps. Best, Bob






Mahmoud Elsaid
0
0
Mahmoud Elsaid Entrepreneur
Entrepreneur-LamasaTech MD for Signage,Touch Screen & Kiosk Solutions-Technology Innovation/Business Strategy Consultant
From what I feel, you seem to be technical . I may be mistaken but as an advise, you have to try and fail so dont' worry about how many times you've done it were it didn't work.

My advise is get a partner involved probably in the marketing field. having a business partner helps you when you need to, and you push him when you need to.

And he will handle the stuff that you may not be experienced in like how to market the product, make sure its appealing etc...

I've started a business a while back and it didn't sell anything for 3 years... after so many pivots, it finally started to be fruitful and started to work!..

i still launch businesses ( 4 at the moment) that don't sell but its all about how do you measure the market, adapt and change direction.. Its like driving a car. You don't stop when you find traffic jam ahead of you, you go left, and right and drive around till you reach your destination.

Read a book called "the Lean startup" . It will help you alot. And don't forget, you dont have to know everything. You compensate essential knowledge for the business with partners. and you outsource the stuff that is not essential but crucial to be done.

You might not be a solopreneur, but perhaps the perfect co-founder for some non-technical people where you can be the technical arm, and they handle the rest ;)
Rob Gropper
4
0
Rob Gropper Entrepreneur
Director at PetHero, SPC - Member at Eastside Incubator - Principal at Tuxedo Technologies Group
Sell it first. In order to sell something you must understand the market and the need from the customer's perspective AND you will better understand your distribution options much more clearly. This forces the discipline of getting out of the office (a Steve Blank-ism) and talking to real prospects/customers about solving real problems. Granted, some mobile apps, for example, don't necessarily solve a 'problem' per se, but the process is still much the same. Solving real problems for real customers provides a very clear path to value proposition, features, revenue model and distribution. In my experience it is lack of a clear value proposition (customers don't understand why they should buy A solution, buy if from YOU and buy it NOW) and distribution that kills more startups started by technical founders than anything else.
Join FounderDating to participate in the discussion
Nothing gets posted to LinkedIn and your information will not be shared.

Just a few more details please.

DO: Start a discussion, share a resource, or ask a question related to entrepreneurship.
DON'T: Post about prohibited topics such as recruiting, cofounder wanted, check out my product
or feedback on the FD site (you can send this to us directly info@founderdating.com).
See the Community Code of Conduct for more details.

Title

Give your question or discussion topic a great title, make it catchy and succinct.

Details

Make sure what you're about to say is specific and relevant - you'll get better responses.

Topics

Tag your discussion so you get more relevant responses.

Question goes here

1,300 Followers

  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
  • Name
    Details
Know someone who should answer this question? Enter their email below
Stay current and follow these discussion topics?