Opinions expressed by Entrepreneur contributors are their very own.
Founders usually discuss taking a “leap of religion” when beginning their enterprise. The phrase, coined by Danish thinker Søren Kierkegaard, describes believing in one thing with out rational proof — accepting an unsure consequence regardless of an absence of proof.
My opinion? This can be a horrible option to strategy launching a company.
To me, taking a leap of religion is like leaping out of an airplane with no parachute, assuming you may be okay with none supporting evidence. Maybe a well-meaning flock of birds will carry you to security, or a robust gust of wind will deposit you gently on the bottom. Personally, I might moderately pack a parachute — one which I do know is structurally sound and can do its job.
Figuring out when it is time to transfer ahead with your enterprise thought does not require hovering foolishly into an unknowable abyss. It doesn’t suggest there will not be uncertainty. However for those who can meet the beneath pre-conditions, your leap shall be extra of a assured step, and you will not have to depend on religion: You may have info.
Associated: 4 Ways to Determine If Now Is the Right Time to Launch Your Business
Pre-condition 1: You understand who is able to use your product
After I began my firm, Jotform, I knew precisely who could be utilizing the product I needed to construct: Me and the entire editors on the media firm the place I labored as a programmer. I used to be consistently getting requests for varieties, so I knew how essential they had been to the corporate’s operations. I additionally knew I used to be bored with constructing them and that there needed to be a greater manner. And there was.
As Y Combinator co-founder Paul Graham put it, “When a startup launches, there should be at the least some customers who actually need what they’re making — not simply individuals who might see themselves utilizing it sooner or later, however who need it urgently.”
Jotform is a traditional instance of the facility of scratching your individual itch. In my case, it was a win-win: Even when my no-code varieties did not take off, I might nonetheless have solved an irritating downside for myself, all whereas persevering with to gather a paycheck at my day job.
Pre-condition 2: You may construct your product
Say you’ve got a tremendous thought for a home you need to construct — it would have all types of unimaginable options, like turrets, a number of balconies and a wraparound porch. The one downside? You’ve got by no means picked up a hammer.
That does not imply it will probably’t be performed. All it means is you may should learn how to do it — if doable, on another person’s dime.
By the point I began engaged on Jotform, I might already constructed a handful of merchandise in my spare time, along with those I might made for my 9 to five job. At that job, I additionally had the extremely worthwhile expertise of proudly owning a SaaS product utilized by hundreds of thousands — it was referred to as TheCounter.com, and it was a form of precursor to Google Analytics. TheCounter.com was initially launched as a free product, however after the inventory market crashed, the corporate wanted money, so I used to be charged with constructing a paid model. Making huge choices and having possession over that product was the very best schooling I might have requested for — and I did all of it whereas persevering with to gather a paycheck.
By the point I began engaged on Jotform, I already had a lot of the expertise I wanted to get it up and working myself. For all the pieces else, I realized as I went.
Pre-condition 3: Your MVP is viable
For a lot of founders, their “leap of religion” second comes after they give up their day job, dramatically buying and selling in safety for the freedom of entrepreneurship.
Not me. I solely give up the media firm after my aspect undertaking — a profile device I might developed — was constantly incomes greater than my paycheck. I spent six months constructing a free model of Jotform with solely primary features. After I launched it, I knew considered one of two issues would occur: Individuals would use it or they would not. And in the event that they did not, nicely, I had solely wasted six months, and I might nonetheless have the earnings from my aspect undertaking.
I had a variety of confidence in Jotform, and as soon as I give up my job, I labored on it with full dedication. As disappointing as it might have been if it had failed, it would not have been catastrophic. I nonetheless had my different merchandise, I nonetheless had my expertise and I knew I’d provide you with one thing else.
Associated: 5 Tips for Solidifying MVP, and Why It’s the Most Important Aspect of Building a Startup
Pre-condition 4: You understand how to achieve your goal customers
This can be a pre-condition I really did not meet myself, however would have had I recognized higher.
Marketing doesn’t come naturally to me, however once I based my firm, I used to be pleased with my product and the expertise I might developed. Doing PR wasn’t too painful.
Nonetheless, there are a lot of methods you’ll be able to drum up curiosity in your product, even earlier than it is launched. Work out your viewers and do outreach on social media, by boards like Reddit or by beginning a weblog. Even the very best product shall be DOA if it does not attain individuals.
Launching a enterprise does not should be a reckless leap into the unknown. By assembly these pre-conditions, you’ll be able to flip a leap of religion right into a strategic, well-planned step ahead — one supported by preparation, knowledge and confidence.
