Recently I have been checking out a lot of podcasts and articles about creating a web based business and I got inspired. I want to get my hands dirty and
try to build a business around a product or service sold online.
It seems like a lot of the podcasts and articles share a tip. Stop overthinking your product, just release it and get feedback. Instead of trying to make the absolute perfect user experience, or get tons of features to make it the most robust application ever, focus on a core problem, solve it, and launch it.
This advice really resonated with me. My mindset was always focused on spending lots of time up front working on side projects for months without showing a single person anything. Constantly working to add features, iterating on code implementations for scalability and maintainability, tweaking design and just overthinking everything. To be fair, the main focus of those side projects wasn’t to start a business, but to practice and get better at software development. Nevertheless, all of those projects were intended to be some sort of project to launch. None of them saw the light of day.
In that same vain, I want to practice starting a business. After listening to the advice of building quickly and launching early, I want to embark on a project that has success tied to the deadline of launching quickly. I’m not sure what the exact product I will be creating is yet, but the initial ground rules are:
- Initial investment of $500
- Evaluate success/failure 30 days after Day 1 (what success looks like will be established before I start)
- Recap each day with a blog post for all 30 days
The 30 days will not strictly be development time. The goal is to have a launched a business that is generating sales after 30 days. Once I decide on the exact product, I will choose a certain benchmark to help evaluate success or failure (i.e., $300 monthly recurring revenue, 20 customers, etc).
In the coming days, I will focus on landing on a business idea. One of the other pieces of advice I am keen on following is the concept of “scratch your own itch”. I think it means to try and solve a problem you yourself are having. Following this idea enables you to have unique insights into the end-user experience as well as possibly having a competitive advantage in the area since you are familiar with the issue you are trying to solve. Some of my primary interests and expertise belong to the following categories:
- Music and Musicianship
- Solo Travel
- Web Development
- Amateur Photography
I will focus on these categories first to find something interesting I can work on. I may think of something else that presents an opportunity, but think it will land somewhere in here. I am currently traveling in Spain so will have plenty of time to think about it. I will be flying back home on November 20th for Thanksgiving. I am aiming to officially start this experiment after the holiday.
If you want to follow my experiment, feel free to sign up for updates via email. I’ll be keeping you in the loop of the entire process. Emails will include new blog posts, inspiring podcast episodes and articles, updates on where I am on the business, and more.