Effectual Entrepreneurship

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  • So you have your idea, but you’re confused – what am I supposed to do? What should I be working on? Where do I begin?
    • It’s much easier than you think.
  • You are plenty smart, have plenty of resources at your fingertips, and know plenty of people who can help you achieve your goal.
  • That’s right; I’m telling you that the most effective way to start your business is beginning with who you know, what you know, and what you already have.
    • You can start right now — how empowering is that?
  • Who you know
    • People you know have access to the information that you need – or know people that do
    • Write down a list of people you’d like to speak to
      • They could be people you think could be your customers, people who have insider info, a mentor, or a good friend.
      • Ask yourself how you could reach them – and then go
    • Ask if they know anyone they think it would be helpful to talk to
  • What you know
    • You’re intelligent, have a strong set of skills that you’ve developed over the years that can help you with your mission
    • Ask yourself: how can I take what I know now and exploit that to create the future vision I imagine?
    • Similarly, what can you teach yourself now that will help you into the future?
  • What you have –
    • It has never been easier to start a new business
    • Anyone can start a blog, sell on Amazon, etc., and they all cost very little money – what better way to begin?
    • You have access to these resources with an Internet connection
      • Get creative – spend as little money as possible
    • In fact… let’s get started right now
    • Take the time to make something cool (i.e., your idea)
      • Then start by telling everyone you know and asking for their help
      • Make a list of 20 people
        • Who do you know? How can they help?
      • As soon as it’s in its first form – send a message to your network introducing the idea and giving them 1 or 2 specific ways they can help you out if they’re in support
      • You’re not selling to anyone; you’re just letting people know
    • Take a look around, take a look inside yourself, and identify the things within your control and your reach that can allow you to make progress on your big idea.
      • Always be asking yourself: what do I have access to now that I can use to my advantage?

Read our blog post on this topic here

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Next Lesson: Intro. to Customer Development (Part 1)

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