Opinions expressed by Entrepreneur contributors are their very own.
Founders typically speak about taking a “leap of religion” when beginning their enterprise. The phrase, coined by Danish thinker Søren Kierkegaard, describes believing in one thing with out rational proof — accepting an unsure final result regardless of a scarcity of proof.
My opinion? This can be a horrible strategy to method launching a company.
To me, taking a leap of religion is like leaping out of an airplane with no parachute, assuming you may be okay with none supporting evidence. Maybe a well-meaning flock of birds will carry you to security, or a powerful gust of wind will deposit you gently on the bottom. Personally, I might somewhat pack a parachute — one which I do know is structurally sound and can do its job.
Figuring out when it is time to transfer ahead with your enterprise thought does not require hovering foolishly into an unknowable abyss. It does not imply there will not be uncertainty. However if you happen to can meet the beneath pre-conditions, your leap can be extra of a assured step, and you will not have to depend on religion: You will have details.
Associated: 4 Ways to Determine If Now Is the Right Time to Launch Your Business
Pre-condition 1: You understand who is able to use your product
Once I began my firm, Jotform, I knew precisely who can be utilizing the product I wished to construct: Me and the entire editors on the media firm the place I labored as a programmer. I used to be consistently getting requests for varieties, so I knew how vital they have been to the corporate’s operations. I additionally knew I used to be uninterested in constructing them and that there needed to be a greater means. And there was.
As Y Combinator co-founder Paul Graham put it, “When a startup launches, there need to be not less than some customers who really want what they’re making — not simply individuals who might see themselves utilizing it at some point, however who need it urgently.”
Jotform is a traditional instance of the facility of scratching your personal itch. In my case, it was a win-win: Even when my no-code varieties did not take off, I might nonetheless have solved an irritating downside for myself, all whereas persevering with to gather a paycheck at my day job.
Pre-condition 2: You’ll be able to construct your product
Say you might have a tremendous thought for a home you wish to construct — it’s going to have all kinds of unimaginable options, like turrets, a number of balconies and a wraparound porch. The one downside? You have by no means picked up a hammer.
That does not imply it could possibly’t be executed. All it means is you may need to learn how to do it — if doable, on another person’s dime.
By the point I began engaged on Jotform, I might already constructed a handful of merchandise in my spare time, along with those I might made for my 9 to five job. At that job, I additionally had the extremely invaluable expertise of proudly owning a SaaS product utilized by tens of millions — it was referred to as TheCounter.com, and it was a kind of precursor to Google Analytics. TheCounter.com was initially launched as a free product, however after the inventory market crashed, the corporate wanted money, so I used to be charged with constructing a paid model. Making large selections and having possession over that product was the perfect schooling I might have requested for — and I did all of it whereas persevering with to gather a paycheck.
By the point I began engaged on Jotform, I already had a lot of the expertise I wanted to get it up and working myself. For all the things else, I discovered as I went.
Pre-condition 3: Your MVP is viable
For a lot of founders, their “leap of religion” second comes after they give up their day job, dramatically buying and selling in safety for the freedom of entrepreneurship.
Not me. I solely give up the media firm after my aspect mission — a profile instrument I might developed — was constantly incomes greater than my paycheck. I spent six months constructing a free model of Jotform with solely fundamental capabilities. Once I launched it, I knew considered one of two issues would occur: Individuals would use it or they would not. And in the event that they did not, nicely, I had solely wasted six months, and I might nonetheless have the earnings from my aspect mission.
I had plenty of confidence in Jotform, and as soon as I give up my job, I labored on it with full dedication. As disappointing as it will have been if it had failed, it would not have been catastrophic. I nonetheless had my different merchandise, I nonetheless had my expertise and I knew I might provide you with one thing else.
Associated: 5 Tips for Solidifying MVP, and Why It’s the Most Important Aspect of Building a Startup
Pre-condition 4: You know the way to succeed in your goal customers
This can be a pre-condition I truly did not meet myself, however would have had I recognized higher.
Marketing doesn’t come naturally to me, however once I based my firm, I used to be happy with my product and the know-how I might developed. Doing PR wasn’t too painful.
Nonetheless, there are numerous methods you’ll be able to drum up curiosity in your product, even earlier than it is launched. Determine your viewers and do outreach on social media, by means of boards like Reddit or by beginning a weblog. Even the perfect product can be DOA if it does not attain folks.
Launching a enterprise does not need to be a reckless leap into the unknown. By assembly these pre-conditions, you’ll be able to flip a leap of religion right into a strategic, well-planned step ahead — one supported by preparation, information and confidence.
