A guest blog from StartupMalaysia.org
Everyone has an idea. It can pop up while singing in the shower or discovering you can’t catch a cab (a-ha—MyTeksi!). However, turning these ideas into tangible products is a completely different story. It is a marathon, not a sprint. Get started before someone creates your idea for you:
Find Your Unique Selling Point
Take the time to do your research. Is your product already on the market? Who are your competitors? How will you differentiate your idea from theirs? Keep it simple but exceptional.
Know Your IP!
IP stands for intellectual property and you need to bring it to your radar IMMEDIATELY. This asset can protect your idea from theft and propel your income. Surprise! IP is for everyone—not just the super techy.
Embrace Risk and Be Patient
Running into bumps is normal. Be open to the hit and make adjustments. Appreciate the journey— You’ll learn a great deal about your product, customers, and team. If you start getting anxious you’ll make bad decisions.
Connect with Global Minds
Don’t give up. You never know when the messiness will turn around. Invest in yourself by attending talks or joining a conference. You’ll gain deeper insights, stimulate your thinking and expand your network.
Turns out the Silicon Valley model doesn’t always work. Don’t stretch yourself and your team if you are not ready. Malaysia has many resources to get you going. Start local—succeed, then go global.
Kaizen is the Japanese practice for continuous improvement. Find ways to expand or make your idea better. Never grow complacent.
Make Work/Life Balance a Priority
Even if you are the most hardworking individual, without balance eventually you and your team will burn out. Balance provides perspective, focus and will keep you all at the top of your game.
Don’t know where to begin? Try checking out the Global IP Valuation Conference 2015 happening next week in Kuala Lumpur on June 8-10th. Learn about how you can protect and commercialize your idea from over 50 amazing international guest speakers! For more information and to register visit: www.gipvc2015.com
Interested in StartupMalaysia? Learn more about us at www.startupmalaysia.org/