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inventing prototypes
Earlier today, I wrote a blog post emphasizing the importance of creating a prototype. Just a while ago I was browsing through youtube and stumbled upon the following video. This ties in very well with the idea of prototype. I want to showcase this here because there are many people that get scared of this word “prototype”.. when all that it really means is to give some tangibility to your idea.. A prototype need not be perfect or the final product as long as it can communicate the idea and give your audience an experience/ preview of your vision.
Imagine the speakers were never invented and this man got an idea of making a speaker and put together a prototype using his imagination and some clever thinking making use of whatever is available to him for free or at a very affordable cost… and walla! you have a working prototype of speakers!!! You can extrapolate this idea to software (with so much free stuff out there on the internet.. there is no dearth of resources which are free or very cheap).
stop Thinking, start Talking; stop Worrying and start Working!!!
Practical advice for Entrepreneurs.
This is how it goes, we first start thinking and keep thinking until it gets too boring or too big in our minds that we start doubting our abilities, or get scared that what if someone else capitalized on “my brilliant idea!”. If you are lucky and come out of your initial inhibitions and insecurities then you can start talking about it with others. It would be best if you talked about it with everybody (not just somebody)… you have nothing to loose at this point.. because idea is just that… an idea.
The more you’ll talk about it the more you’ll get serious about it. This empowers you but at the same time puts you in a vulnerable position where you might get influenced by other people’s opinions and more so by the negative opinions about your idea and your entrepreneurial dream would be crushed there…. But too much talking isn’t going to fetch you investments ($$). Therefore, at some point in time (earlier the better) start working on building a working prototype.
A working prototype will be a testament of the potential in your idea and your (and your team’s) potential to deliver. Yes, power-point and a well thought out business plan is important but not as important as a powerful-prototype. Don’t wait, just roll up your sleeves and make the best prototype out of your idea… and thank yourself later that you did that.
PS: More on the idea of inventing prototypes here.
10 tips on building strategic business partnership
Building strategic partnership is no longer a ‘choice’ but a necessity in today’s business arena. Strategic Business Partners can help you grow your business fast and more efficiently. They may even help you build better products and offer better services to your customers. They can help you free up your resources to concentrate on your core strengths and thereby make you more efficient and profitable.
Here are some tips on building strategic business partnership:
1. Have a clear objective after a SWOT analysis. <– This is necessary when you are deciding on creating a Business Partner Program.
2. Research the marketplace for players that have the potential to prosper with you and make you prosperous in return OR at-least give you room to concentrate on areas of your business that are more critical to your mission and vision.
3. Ensure that they are reputed and have a clean track-record.
4. Is it a good fit? Clearly understand what they bring on the table in terms of their technology, infrastructure, expertise, customer-base, and their Brand.
5. Identify any difference of interest and assess what you are ready to ‘give away’ as a sacrifice to ‘get more’ from the relationship.
6. Do a trial run with their services and assess their work first hand. Use this opportunity to fine-tune the identified Key Performance Indicators (KPIs).
7. Finalize your KPIs and other matrices and ensure that these are consistent across all your partners for that specific business area.
8. Once you are fully convinced that they are a good fit and the partnership would be ‘mutually beneficial’ then go ahead and finalize the contract. Make sure the contract is well thought out and written with legal’s consent. Take every possible measure to safeguard your company’s reputation and best interests. Make sure that the contract is thorough and terms and conditions are well defined and documented on paper. Remember: if its not written it doesn’t exist.
9. Have a robust Partner Ennoblement Program in place that would ensure that your partners are best equipped with knowledge and necessary assets and skills.
10. Last but not the least make sure you have a well defined exit plan for times when you or your partner decides to part ways.
Difficult customers
Its the difficult customers we should like the most. They give you the opportunity to flex your muscles and bring out the super human strengths in you and team. For that matter, tough situations present the same opportunities to identify the champions in you and team. It may not be the best way to realize that your process has a problem but hey if you can take up the challenge and fix it.. you will have a more efficient process in hand! and get all the credit for fixing a broken system.
There’s nothing better than turning around a difficult, dissatisfied customer into a satisfied one. So, next time you have a sticky customer situation dont panic, just take a deep breath and be grateful that youve come across one and give it all that you have to make it work for them and then get ready to receive applauds in your praise. Oh! and by the way if it doesnt work out dont be sad, you can still be happy that you gave it your best shot and sharpened your pencil in the process. Dont forget to share your experience with your management and document any lessons learned.
Just Being Human... 