The birth of a Digital Product: What to focus on?
“Marketing is everything for a company.” “Finances must be the focus of attention.” “Focus on the differentiator to ground your initial position against your competitors.” “Don’t lose sight of taxes.” “Create a business plan in phases.” “Create a vision in a big way, don’t fall short.” “Try your idea quickly and pivot.” Get investment and keep growing fast”.
These and other reflections, recommendations, theories, euphemisms and assumptions are some of what we have faced throughout more than 10 years as entrepreneurs. This post could very well be packed with them, and each one to be treated as important and wise as the one that precedes it. And maybe that’s true, since each one comes from entrepreneurs who have built their business based on that ideal, but is that all? I do not think so.
“The rules are not yet written” they said, but Capitalism (the context in which most of the new Digital Products are born) has been written for more than 150 years by the German philosopher Karl Marx. Perhaps they simply do not like to read the whole story or book, but rather refer extracts of the theory (as are all the advices) that do not get to express the entire context for which they were created / wrote it, one essential for them to come to reality.
And I am not saying that they are useless or false, quite the contrary. In the more than 13 years of experience being an entrepreneur, I have allowed myself to “focus” on these recommendations in each of the products that we have built, and they certainly work, or at least they give you a guide at the time of the conception of the product to shed some light in the daily work of the new venture.
As an entrepreneur, you are the number one investor, and you are investing in yourself, no matter how many guides and recommendations you follow, at the end all of this is a multidimensional, complex investment with different ways of thinking that you must manage. Some were “born” for this, and there are those who develop it over time, but even so, the number of edges that the new product must face goes beyond the daily actions of the entrepreneur, that is, not everything will be in your hands neither those of your team or suppliers, there are also external things that you will not control, such as a pandemic to give a clear and concise example.
“You have to give everything, focus 24/7 for this to work” is one of the worst that I have seen, just for the simple fact that it totally deviates from the fundamental reason for creating a product: To generate profit.
After all the experience I have had, it is the vision that has made the difference in every venture. The vision or dream that you want to make come true, that dream with which you see a positive change in the world. If the vision is feasible in the context in which you live, it can become a reality. Otherwise, expect some of the most profound learning in your life.
Perhaps that is why, in Silicon Valley, an entrepreneur who has failed several times is worth more than a new one with a great idea. Anyway, yet another way of thinking.
Lean then on everything that you believe will help you materialize your vision, and select those “good practices” you believe are best aligned to launch your first version in the least time and cost.
This is something that Inflexion has helped many entrepreneurs throughout its existence. At least in the digital part, we help you to materialize that vision, make it tangible, make it real as soon as possible. In this dimension, Inflexion will be a good ally, one that serves only for that moment of conception, then it is up to you to build your team, because being a digital venture that muscle must also be born in you to live by yourself, but that is a normal growth process.
We have had such good results that this month Design Rush has placed us as one of the best eCommerce Web Design Companies, thank you very much for your recognition and that of our clients.
And finally, you might wonder when is it time to conclude that your vision was not correct? The vision (or dream) has a lot of ourselves, it is difficult to give up something that one believes with such passion. But there is something with zero passion and very cold within the reach of all of us that will make you see reason, money. Like jing-jang, oscillate between your dream and money, looking for the balance to make it come true, but if you can’t see that balance, it will be better to change quickly.