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The greatest start-up in the world The greatest start-up in the world
by Joseph Gatt
2019-03-10 09:46:14
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Right now the reason start-ups don't always work is we are using supply-side economics when it comes to start-ups. That is you create a start-up, you supply a favor, and wait for the demand to come pouring it.

A healthy start-up system is a demand-side start-up system. That is you start small, see if there's a demand, work with the demand, and gradually grow with your demand. The demand can be one or two clients, or several clients, which grows into several more clients, which grows into an industry.

star001For there to be a demand, ideally you would work with clients before you even launch your product. That is door-to-door or online marketing tactics don't always work, a lot of times you will need personal connections with the clients. For there to be a personal connection with your clients, they need to know what it is that you are doing, and they need to have an actual demand for your product.

So for there to be a successful startup you need a good network. How do you form a network? For networks to form you need to be a member of organizations from a certain industry, not just any organization. Healthy organizations that is. How many churches and schools and families have toxic environments? How many industries and trades have toxic environments? The kind where no one really talks to no one and everyone being a hypocrite, saying nice things but destroying you behind your back.

How do you become a member of healthy organizations? You have to look for them. 99% of the times you will encounter toxic organizations. But you will then encounter a healthy organization, which will introduce you to another healthy organization, which will introduce you to other healthy organizations. That way you will stay away from the rotten part of the industry, and stay with the healthy section of the industry. In healthy organizations people talk, share tips, talk about organizations and tell you who to talk to for your product.

But how do you become a member of a healthy organization? You need to be a healthy person yourself. That is if you're the kind of person who has a toxic personality (I know you will probably deny it, but come on, admit it if you do) you won't become a healthy member of healthy organizations. Healthy organizations will kick you out soon enough; before you even become a full-fledged member.

Now to the second part of the equation, your product. There are hundreds of industries, and one of the mistakes a lot of start-ups do is they target every single industry, most industries, or don't even know what industry to target. You have the construction industry which has its own range of products, the pharmaceutical industry which has its own range of products, the furniture industry which has its own range of products, the tobacco industry which has its own range of products, the maritime industry which has its own range of products, the defense and armament industry which has its own range of products and so on.

Unfortunately a lot of start-ups equate innovation with smartphones and tablets. There's a lot more than smartphones and tablets, smartphones and tablets are only one industry, one of an ocean of industries. True, most people use smartphones, but most innovation is needed for areas outside computers and smartphones.

So when you want to come up with a product, what industry are you targeting? Once you will spend enough time with people in the industry, you will probably end up knowing what products they need and what products they would be willing to adopt. I hung out with the geology and ground survey industry for a while, and quickly noticed that they needed some material that did not exist. In one specific case, the product that the geology industry seemed to need was available in the 1980s, but no longer in production.

Of course you have to be smart when you network. Just because one person needs one product doesn't mean that everyone else will need it. But once you become comfortable talking to people from a certain industry, you will quickly find out what products they need to improve their everyday life.

One thing they don't teach in MBAs is to look into different industries. The steel industry has its own needs, the banking industry has its own needs, the road construction industry has its own needs and the fashion industry has its own needs. Just because most people won't understand your invention, doesn't mean you'll fail. As long as people from a certain industry will need your product and understand your product, you know you can succeed.

Of course you will need to have close friends in the industry. People need to know you and appreciate you, and you will eventually become a fixture in the industry. That is because most non-smart phone and computer industries are actually suffering from an innovation deficit, that is that there are not enough innovators in their industry, and they still use tactics and materials from the 1950s or before that.


     
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