An important lesson I have learned from past experience with launching new businesses is, that before you go all out and invest lots of time and effort into the development of a business concept, to first run a pilot and test it at it’s most basic scale. I still have trouble doing this because I want that whatever I put out there, to be as good as it can according to ‘my’ standards. After having burnt my fingers a few times, I have realized that surprisingly, most people do not really care for ‘my’ standards, and most of the time we have to adjust strategy according to the customer’s needs is what is required.

If you are starting a new business or company, make sure to scale your service down to it’s absolute core. What is the core value proposition for your target segment? If it is convenience, in the form of  software, then develop the functions that provide the value they expect. There is something really special when you bring your product/service to your customer for the first time and they start providing feedback. One needs to be able to handle this, in whatever shape or form it is given to you. When they tell you that you service is truly amazing, ask them “What can I do to make it better?”  When they tell you that your product does not provide the level of the value they expected, ask them “What can I integrate to help you achieve that level?” One needs to remain flexible enough to adapt to the customer’s needs and requirements.

As entrepreneurs we often have a great level of self confidence in our abilities, this is what separates us from the rest. We truly believe that we can do things that will make the world a better place, and in the process, benefit ourselves as well. However, we should not let that level of self confidence become a crutch. We start businesses for the benefit of a certain target segment. As far as we are concerned their feedback and experience must transcend all other opinions. Don’t wait until your product/service has all the features you think your target market needs. Release early and regularly, keep updating your service to make it into something that both you and your customer can be proud of.