The things you like to do and those you have to do…
Its always difficult to all entrepreneurs, especially first timers to separate out the urgent from the important. This is particularly true as it relates to their product or service offering. The technical founders would rather keep coding then talk to ta customer and the marketing/sales folks may not understand the complexity of the product they are trying to scope and build. Consequently, each group stays in their own comfort zone and work on the things they want to do not the things they have to do.
The things the that have to get done:
- Get your (sales) pitch down – that’s not just in your head – Even if your going to bootstrap your business and not raise $$$ you still need to have a pitch down so you can communicate your value proposition. So practice on real people having a peer group is great for that not your team. The team has already bought the story and won’t likely give you honest feedback.
- Validate your hypothesis with Customers. This will require you to get your pitch the succinct message. Talk to 10, find some believers and ask them a standard set of question. When your done ask if you can meet with them again and if they would be a beta customer
- Incorporation/Legal – if your going to raise $ you need to be a C Corp, yes there are other option but you can waste a lot of time dinking around with learning the nuances of an LLC or the future tax treatment of a S Corp. You need a standard set of document. NDA, Assignment Agreement for contract/employee work, Employment Agreements
- Banking – it’s fun for lawyers and bankers… but not likely for you. However it needs to get done and done right. If you can’t take the order/payment
- Accounting – get a part time bookkeeper in to get it done right from the start. It’s not costly to do it write the first time, but don’t do it yourself (if this isn’t your skill set) even if your smart.
With the exception of the Pitch practice and customers you should be able to get these tasks done in a couple of weeks or if necessary a few days.
You… Step away from the keyboard… and go talk to a customer.
Leave a Comment