When we were first given the assignment to develop our own startup idea for class last week, I didn’t realize how difficult it would be to do. I really struggled to come up with a plan for something that I thought could benefit not only me but also other people and still be possible to create.
After reading “The PMARCA Guide to Startups: Part 1: Why not to do a startup,” I understand equally how hard it would be to actually put together the team, find the funding and all of the other details that go into launching your startup idea. The risk involved, as discussed in the article, can be very daunting. The importance of having an idea you believe in and that people will also be interested to buy puts pressure on the situation.
One thing that I was reminded of while reading these articles is the advice that Professor Haimerl gave to us when we were coming up with our startup projects. You have to think about a solution first before developing the product. By doing that, you’re advantaged in the sense that it helps you to better address what you need and what other people like you might be looking for or could also benefit from. When I read “The PMARCA Guide to Startups: Part 4: The only thing that matters” and the writer claimed that the market is the most important element of a successful startup, what we learned in class really clicked for me and I understood why the solution is such an important part of the process.
It ties into what Paul Graham wrote about in the article that we read last week, “How to Get Startup Ideas.” He said that you have to find a problem to solve in order to come up with a profitable idea for a startup company. You can’t just have a really great product. It also has to be built on a solid and well-thought out solution that will help people in the long run. Considering all of the reading we have done, I have concluded that the stronger the need people have to fix a certain problem and the quality of the product created to address the issue, the better the chance that “the market will be fulfilled” (PMARCA Guide).
It’s pretty amazing to read about how much thought and hard work goes into creating a startup. Since we started learning about them, I have thought more about the services and apps that I use in my life and how they came to be what they are and reach the success they have accumulated. For example, Uber, HelloFresh, Airbnb, etc. The fact that someone saw a problem and built a product that solved it is so fascinating. Being an entrepreneur is definitely not an easy job or for the faint of heart. As Part 1 of the Pmarca Guide says, a lot of the work in building a successful startup is up to the creator and “you get told no — a lot,” which is why believing in the idea is so crucial.