I recently have started my own company and have found it extremely challenging. That is one of the reasons why I haven't been able to post right away. The company I have started, AudioDize
, deals with obtaining more content for your iPod - not just music. There has been a lot of movement in this area - especially with the recent hype of podcasting.
We are planning on going live by Monday and will be conducting beta testing with a small beta group of users. If you want to know more or would like to participate in the beta test group leave me a message...
Well, this post deals with some of the lessons I have learned in this process. For some of these problems, I still don't have a good solution but hopefully business school will help in this area. I am excited about the entrepreneur curriculum offered at Sloan - I can't wait!
My purpose of starting a company was to
1. I really wanted to do something - I feel like I need to gain these types of experiences in order for me to be truly successful
2. I thought my idea was simple, decent and easy to get started - I have had more complicated ideas in the past and didn't have the resources to really start
3. I really wanted to do something
When I first had my idea, I shared it with a group of friends without knowing what their involvement would be. So here is a list of thoughts, experiences, do's don'ts, basically anything I can think that may or may not be of use:
1. Usually everyone is excited about a good idea
- the problem is that not everyone is a worker or has the ability to make something happen
- friendships can get in the way
- someone needs to "own" the idea in order to drive the concept
- someone needs to think about making money
- in my experience I find that most people can brainstorm and can come up with ways to make things better. However, not everyone thinks logically when trying to execute or knows what it takes to execute - in this case the leader has to step up - even if they don't know how to do it themselves - they just need to pretend just enough to provide direction and get people started
2. Need to cut down on scope and get specific
- For some reason when you start something the scope is always changing or being added to. Though this can be healthy - especially for ideas that haven't been fully developed, they sometimes can cause delays, problems between co-workers, and worst of all - the end of the project.
- By cutting down scope you aren't trashing the cool ideas - instead view it as phases, this way you can finish something and be excited about it - then continue to add new features and functionality
- It's really hard to motivate people in general. In my case everyone that is involved in the concept has a full-time job. So when we get home on certain days - after spending all day in front of a computer - you really don't want to sit in front of the computer for the rest of the night. This whole process requires commitment, trust, and internal drive. You will find that a lot of people lack these qualities when push comes to shove.
- People are different - obviously - but you really need to understand that in order to get past certain conflicts, push people to do more, and obtain their respect.
- Friendships and work can get complicated at times
Again, these are just a few of my thoughts - I hope to add more thoughts as I continue to learn from this experience. I would love to hear the thoughts of others...