Please play the audio narrative above for this blog article. Recorded by Michael McAnally on the morning of Nov. 22, 2016.
I'm writing this post early in the morning, in fact a little after 4 am on Thanksgiving day. I'm up worrying about the start-up, about our team, about how we are going to bootstrap this thing that is consuming my entire life?! Maybe I'm not cut out to be a founder? Maybe our team doesn't have the right stuff? Together do we possess that spark of talent, motivation, resources and priorities necessary to ignite our start-up and get it off the ground and moving? Doubt is a small part of the territory of my thoughts, meaning others may hide it, but I can still hear it now in the distant background noise. I realize that I am a thoughtfully introspective individual, and I must push it back, tune it out, move forward anyway, for I need to set a good example for the others.
It's been about three months and we are in stealth mode, so I can't talk much about specifics. We have made progress, there our four of us on the team now and we are answering many of the necessary questions. We are beginning to get some traction with our value proposition, business plan and even technology architecture and prototype refinements are progressing. We have the added difficulty of having to manufacture an IoT hardware component for use in our business model.
Admittedly we are progressing much slower than desired, but considering we are doing this with no fuel but our own sweat equity, not really bad at all. Coaching my self again, I really need to keep prospective and remain positive. The team has finally gelled and we are thinking of adding others! They will bring their own dynamic energy to the mix, both solving and creating new problems.
It has not been easy or effortless. Anyone who thinks that putting the word founder or co-founder after their name just to sound cool, should really think again! Sure it's exciting to be creating something really new and different, but very hard as well. At this time If I were to offer advice on whether to build a new start-up . . . I would have to encourage you only if you have the necessary fortitude and determination, and dissuade you if you do not.
Well that's all for now, as a "young entrepreneurial upstart", I do need to get some sleep now! As help and a very good luck gift-wish to you for reading my blog, I have include some helpful essential links for your founders journey.
a video about Why?
the lean start-up
Business Model Canvas
Value Proposition Canvas Explained
how to hold a facilitated meeting
how to discuss equity in a newly formed startup
you may need to model new or existing business processes or use cases, UML is the tool for this
Personas, a valuable tool as well
The Dark Side of Startups: 5 Corrosive Co-Founder Conflicts
Startup Dirty Laundry: Conflicts That Kill Partnerships
IDEAS - Ideation - Market Scanning
Resources for Creating a Marketing Plan: Environmental Scan
How to do a market analysis for a business plan