LESSON 1: HOW TO MAKE FRIENDS WITH YOUR INNER CRITIC
Back in the days when we were a startup studio, we'd go to startup events where the main thing on most people's minds was scale.
There was an overwhelming obsession with being the next Uber, Google, Facebook, or (now we're showing our age), MySpace – remember that?
This single focus on growth can blind us to the most important question when starting out. The question that will really determine whether you scale and make impact:
"HOW WILL THIS BUSINESS SERVE MY NEEDS?"
This may seem like a selfish question and have nothing to do with running a business. But the truth is, in fact, it has everything to do with it.
Happiness in business starts with you. Happy founders that are in tune to their own needs are the starting point for building a happy startup.
FIND YOUR FUNDAMENTAL NEEDS
All of us have emotional needs, just as we have physical needs. When these needs are met they trigger positive emotions in us. Your job is to list your most important emotional needs. When these needs are met then life is good.
When working with startups one of the exercises we find most useful is to define a value proposition statement for their product.
This is a structured statement that describes how the product or service they are building would benefit their target customer. The key elements of the statement are:
- The name of the product or service
- Who is it trying to help?
- What specific problem is the product or service trying to address?
- How is it going to do this?
- Why is it different to any existing alternatives?