“Since the Internet was introduced, it has fundamentally changed the way people do things and the way we live our lives. 10 years ago, there was no iPhone nor was there Google Play. Today, people are leveraging the Internet and mobile phones to make the world a better place by solving real problems in life.”
The digital platform has enabled small enterprises to compete with large enterprises by using technology, trading rules, data, value chain and so on to expand business globally. Digital economies brings inclusive development which can help marginalized people get out of poverty, bring more imagination for new retail, smarter urban management and so on. There are many “real problems” in this world waiting to be solved especially in the underserved markets.
Firstly, choose to solve a real problem which is closest to your heart. The roller coaster ride will be worth it. When you find a close-to-your-heart problem to solve, always think big. In 10 years time, what is the inspiring, meaningful impact you would want to see in the community that matters to people, beyond solving the current problem?
Secondly, learn as much as you can about your customers.
- Who are they?
- Why do they need your products or solutions?
- What do they do?
- How much they are willing to spend on average for your products or solutions?
- Where do they live?
- What is the most effective way to approach them and continue to add value to their lives?
Thirdly, assemble an extraordinary team! Bring people smarter than you in different areas of expertise who can help your startup create robust application, API and powerful distribution network.
Lastly, I can’t really tell you how many times I’ve seen people walk out of meeting saying, “I’m going to conquer the world” and 2 months later, nothing has happened. Be clear on your objective and focus on creating results that matters. Discuss with your team, what is important for the next 3 months, 6 months and 1 year for your startup to achieve.
You will get into trouble along the way. This is part of the learning process to be a become an entrepreneur. 30% of your strategy is planning, and the remaining 70% is found in work. If you are not in the right direction, keep trying and do not give up.
According to Atasha, this is the basic thought process which he recommends for every entrepreneur to follow before crafting a pitch deck and pitch to potential investors.