Seventhman Blog

  1. Do You Have a Million Dollar Software Idea?

    "software idea"You’ve got an idea. Great!  How do you know if it’s a good one?  There lies the problem among many who are wanting to build a viable software that will sell.  When great ideas are a dime a dozen, so the adage goes, it’s crucial for you to find that million dollar idea (as mentioned on this post from Forbes)  You may have a brilliant idea.. but you want to minimize the risk of getting your startup ready.  If you’re like one of the many who ended up with piles of ideas scribbled on a cocktail napkin, of concepts that never saw the light of day, you’re in for a treat.  I’m here to help you avoid this worst-case scenario where your idea crashes and burns.

    The Myth Busters of Idea Generation

    Just because you’re the boss doesn’t mean you’re always right.  Building your software idea from scratch will start with an awesome coding team.  While adopting the Agile concept of Intelligent Fast Failure where you fail smart, fail small and fail fast so you can succeed faster may help – you have to optimize your ego and take an objective stance in every stage of the software development process.  The key here is to listen to feedback and look at the numbers presented from all the data researched about your idea’s strengths, weaknesses, opportunities and threats.  In short, make that S.W.O.T. analysis count.  Don’t be tempted to mimic the best out there and play it safe.  If everyone’s doing it,  how can you even offer value to the table?  While no argument is right or wrong, you don’t have to disrupt just to innovate.  Most of the time, the most innovative applications of them all are the simplest to use.

    What is the Market Potential of Your Software Idea?

    It might be a shocker to you that majority of businesses fail within five years of starting up.  After all, you want to come up with a software that sells.  You may be on a bootstrapping mode right now and don’t have the time to do proper market research which can be costly.  The Good News?  You can always ask and collect feedback from social media sites – so long as you do it with style.  If you think that email marketing is dead, you might try to reconsider this option.  The trick here is to tie it up with a squeeze page or ‘launching soon’ page that will collect email signups before you even come up with the finished product.  You may even send exclusive invites.  Your job is not only to create anticipation about your product, but testing which approach will work best.  By the time you’re done, you have already built a list of customers on your wait list.  Or, you can always google trends and take down notes.

    You Don’t Need Coding Skills to Start a Successful Business

    You might have heard a lot of debates on this topic online and there are those who will tell you that knowing every aspect of the software development stage is essential.  But here’s what they forgot to tell you – coding is both a science and art, where the very best of us have taken more than a decade of practicing our craft and yet, we’re learning something new each time.  Coming up with a good idea means making sure that there is a market for it, or else, you’re just be wasting time and money.  You might not agree with me here, but when business ideas fail –  it’s not really because the concept is bad, but the execution is.  Knowing who your customers are and solving their pain points should be your No. 1 priority. Your passion and commitment will be tested.

    There’s a good chance that you might fail.. and then, there’s a greater chance that you will succeed.  Do you need help getting there?  Let’s Talk!

     

     

     

  2. The Next Big Idea: When Entrepreneurs Think Outside the Box

    "brainstorm"Back in the days of jotting down your idea on a cocktail napkin, the excitement seems so overwhelming that you need to capture that ‘magic’ moment to the next million dollar dream.  Like sugar rush, ideas can also crash.. because you haven’t had time to find out if it’s viable.  For a gifted few, imagination comes so easy.  But reality is, one need to lay down the foundations of a plan, to have a clear idea on what makes your product unique, on how to build a demand in the marketplace for it.  So, the real question is this: How can you turn that big idea into a profitable business?  Can you manage without having a partner, taking a loan or writing a business plan?

    Going Beyond Your Unique Value Proposition

    It’s starting to feel a lot like summer and I can’t stop thinking of this beach vacation under a beautiful weather.. and yet, I have to keep my focus somehow as I prioritize my list to making this new idea a reality.  If there’s one good advice I’ve read today, it’s this post  on military training techniques you can apply to business.  I love what Louis wrote, “Intelligence is a Key to Staying Ahead”.  Nowadays, everyone’s on the rush to come up with a new product or service that they often forget to do market research.  The data you can gather will prove invaluable in determining the success or failure rate of your plan.  This is why we often see many aspiring entrepreneurs waste dollars in activities that lack direction.  You don’t simply state what makes you unique, but you need to have a road map to follow in making sure that your research will help you fine tune that idea into something a customer will want to purchase.  Even before you think of innovation when it comes to brand development, try to see the SWOT of your idea ( as in strength, weakness, opportunity and threat ). Your analysis based on these will help you fix flaws before people try it out.

    Challenges in Brainstorming: Where Traditional Meets Digital

    Sometimes, it is better to get less advice because the more you do, the more distracted you will be.  Should you just ignore everybody instead?  It’s just that the more unique your concept is, the harder it is for you to get like minds to help you brainstorm ideas.  There are those moments when solitude works best though, where all that brainstorming sessions and focus groups do more harm than good.  What intrigues me most is that in this digital age, those who collaborate using new technologies often come up with creative ways to work on ideas.  When there is time pressure on compiling data and predicting trends, the very same idea can be burned through overthinking.  The challenge, therefore, is how to run a criticism-free session that’s free from fear, stress, ego, beliefs, absolute truths, conformity, doubts and bad habits.  The very process of sharing becomes the very problem itself, don’t you think?

    Is There Really a Market for Your Idea?

    This is a very crucial question to answer.  The problem with running surveys is that quantifying results based on a few number doesn’t really justify the target market as a whole.  How can you really solve your customers’ pain points?  When you present an idea to a group, things become interactive and participants are free to share their thoughts about your idea.  Sometimes, it is how we question things that define what we observe and this can be very limiting.  The marketplace is crowded and having your slice off the pie means creating the ultimate hook where fishes bite the bait.  It all comes down to making things simple and sticking to your promise.  If you build it right, the right customers will come..

    There is chaos in the creative thinking process. Things can get out of control.  Don’t panic. It’s only normal.  Pay attention and just do things better this time.