Posts on entrepreneurship and the startup life.
Recently I’ve been spending a considerable amount of time working on Semafores’ business plan. I’ve been putting on paper what we want to accomplish, how we expect to do it, when it needs to be done, and how much we think it will cost. I won’t share the details here. There are many pages of them and they wouldn’t be of interest to anyone except for potential investors and our competitors.
I am a startup entrepreneur! I can do it all! I’m being lean! Not! These are common thought pitfalls which entrepreneurs can fall into. Lean is the new, well not so new, black. We have this tendency to want to do everything on the cheap with our own sweat and hard work. It’s one of the reasons we become entrepreneurs. But no one is all knowing and all powerful. No matter what that C-level title may make you feel, you aren’t Supergirl.
The Lean Startup trend has been very hot for the past few years in the startup community. For good reason. It preaches a philosophy of rapid prototype, test, and release to quickly get product to market and get valuable feedback from users. At first the product may not really bare any resemblance to your final vision, but you learn from the iterations pulling your customers with you along for the ride. It’s a practice applicable to all parts of your business from development to marketing. But it’s frequently taken too far.
At Semafores we're contemplating a crowdfunding campaign to raise money to cover expenses and to generate some product awareness as we get closer to launch. We're in the early stages of planning our campaign; in fact, we haven't yet chosen a platform. We have identified two that may be a good fit for us: Appsfunder and Indiegogo.