If you are having fun when doing something, you are surely building something that will be useful.
Changing The World
There are many things which worked in Facebook and Google but today those things do not work and they do not exist. The challenges that we face today are different from what we would experience then. We get inspirations from different sources currently which was not the case then. As an entrepreneur, what should you do in a world that is ever changing? Peter Thiel, in his book Zero to One, said the Zuckerberg who will be in existence in future years will not build social networks. The next Larry Page will not be building a search engine. To help you understand this, I’ll say that people do not laugh at jokes they already laughed at.
There might be some ire over this but entrepreneurs need to understand that entrepreneurship has a huge similarity with stand-up comedy. In comedy for you to write your jokes, you have to understand what your audience likes. Likewise, for entrepreneurs to decide which product to sell, they have to understand what their customers like. The most successful comedians understand their audience and they know what they want to hear. People laugh at jokes which they relate with. They have to target something that the audience relates with or something they have ever experienced.
Most entrepreneurs do not know this and they take a route which is totally opposite to this and they end up being a failure. They end up making product designs, writing lines of code, then send emails to everyone including their aunts. If this was comedy, the audience would not understand the joke. The comic starts to doubt their abilities to make jokes and starts asking themselves whether they have done wrong in delivering the joke instead of asking themselves whether the joke isn’t funny to them.
You fail as an entrepreneur when you fail to find what product will fit your market well. This is the main cause of startup failure although it is preventable. Most entrepreneurs have enough funds to start but they use it in the different kinds of advertising channels and growth hacks. Something they do not realize is that no amount of money and backup can make a joke funny, if it is not funny.
If you find the similarity between comedy and entrepreneurship, you will know whether your product will stand in the block or if it will sell fast. An entrepreneur at the starting point has no difference than a comedian looking for jokes. If a comedian realizes that you are more likely to laugh at their jokes, they will look at you keenly. They will observe your behavior and motivations and then base their jokes around that. Instead of focusing on what problem is solved by the product, entrepreneurs should focus on improving the quality of the product so that it can add value to the life of their customer’s.
Can you note the similarity between joke development and product development? The usefulness of a product is similar to how funny the joke is. The delivery of the joke, however, makes or breaks it. The way you deliver your product enables your customers to either appreciate it or not. This is actually what you sell. Comedians do not sell the laughs, they sell happiness. Facebook does not sell the application of social networking; they sell the feeling of being connected with each other around the world. The abstract attribute of how your product touches the life of your sellers is what makes your product a perfect product.
Before product design, you should ask yourself these questions.
- Who will find my joke funny? Do a research and find who is your target audience.
- What emotions will be triggered by my jokes? You should be at a point in which you can predict the emotions your customers will show.
- Is my mode of delivery supplementing the joke? Your jokes can be the funniest but your body language and delivery make your jokes dead.
- How much can people pay for hearing my jokes? How special do your jokes make you feel? Do you feel that people would pay to listen to you entertain them? Will your audience remember your jokes at a party later on and share them with their friends?
We can summarize these to be the four pillars of product development; market, sentiment, execution and opportunity.
We can look at an example of the company: Uber. Everyone who goes to work by commuting is their potential customer. Instead of struggling to get a taxi or sitting in a crowded bus, you can order a cab that will come right at your doorstep. This application is so effective as it makes use of cashless payments and you can find a cab by the click of a button. Most people commuting to work every day do not have to worry about how they will get to work and so they will have to pay for that.
Financial backers who are looking forward to cash in to different opportunities will consider products that are performing well and those that are able to attract better talent. They would prefer such opportunities because they want to gain fair attention. This is similar to a YouTube video blogger who sketched something in their bedroom, they are likely to get financed by a stage performer. The product that you cash in and can give you a lot of cash. People invest their time and money on things that they see have an easy winning capacity.
I lack trust for products which do not add value to my life. I find such products easily replaceable and I cannot be loyal to such products. You should always strive so that your customers can have a feeling of satisfaction after using your products.