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 consequence regardless of a scarcity of proof.
My opinion? This can be a horrible option to strategy launching a company.
To me, taking a leap of religion is like leaping out of an airplane with no parachute, assuming you will be okay with none supporting evidence. Maybe a well-meaning flock of birds will carry you to security, or a robust gust of wind will deposit you gently on the bottom. Personally, I would reasonably 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 corporation concept does not require hovering foolishly into an unknowable abyss. It does not imply there will not be uncertainty. However when you can meet the under pre-conditions, your leap will probably be extra of a assured step, and you will not have to depend on religion: You may have info.
Associated: 4 Ways to Determine If Now Is the Right Time to Launch Your Business
Pre-condition 1: You realize who is able to use your product
After I began my firm, Jotform, I knew precisely who could be utilizing the product I needed to construct: Me and the entire editors on the media firm the place I labored as a programmer. I used to be continually getting requests for varieties, so I knew how vital they had 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 approach. And there was.
As Y Combinator co-founder Paul Graham put it, “When a startup launches, there need to be no less than some customers who really want what they’re making — not simply individuals who may see themselves utilizing it in the future, however who need it urgently.”
Jotform is a basic 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 would 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 have got an incredible concept for a home you need to construct — it would have all types 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 will probably’t be carried out. All it means is you will need to learn how to do it — if attainable, on another person’s dime.
By the point I began engaged on Jotform, I would already constructed a handful of merchandise in my spare time, along with those I would made for my 9 to five job. At that job, I additionally had the extremely beneficial expertise of proudly owning a SaaS product utilized by hundreds of thousands — it was known as TheCounter.com, and it was a type 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 massive choices and having possession over that product was the very best training I may 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 operating myself. For every thing 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 stop their day job, dramatically buying and selling in safety for the freedom of entrepreneurship.
Not me. I solely stop the media firm after my facet mission — a profile software I would developed — was persistently incomes greater than my paycheck. I spent six months constructing a free model of Jotform with solely fundamental features. After I launched it, I knew considered one of two issues would occur: Folks would use it or they would not. And in the event that they did not, properly, I had solely wasted six months, and I would nonetheless have the revenue from my facet mission.
I had a whole lot of confidence in Jotform, and as soon as I stop my job, I labored on it with full dedication. As disappointing as it could 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’d 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 understand how to achieve 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 after I based my firm, I used to be pleased with my product and the expertise I would developed. Doing PR wasn’t too painful.
Nonetheless, there are numerous methods you may drum up curiosity in your product, even earlier than it is launched. Work out your viewers and do outreach on social media, by way of boards like Reddit or by beginning a weblog. Even the very best product will probably be DOA if it does not attain individuals.
Launching a enterprise does not need to be a reckless leap into the unknown. By assembly these pre-conditions, you may flip a leap of religion right into a strategic, well-planned step ahead — one supported by preparation, knowledge and confidence.
