Why Entrepreneurs Should Work on a New Project Every Few Months
When you are a full-time, serial entrepreneur, typically you are working multiple projects at a time. When building a company, there is a process that you have to go through, from whiteboard to launch. On a daily basis, your focus is usually devoted to each piece of this process. Each product or service has a different process, albeit, it is still a process. For example, when starting a new software platform, the process usually goes like this:
- Writing out an elevator pitch or a bullet list of your idea
- Drawing out your concept on a whiteboard to visualize it
- Writing out the functionality of the platform step-by-step in a document
- Designing your platform in Photoshop or another graphic design tool
- Deciding which code language you’d like to use to build your MVP (Minimum Viable Product)
- Building your platform in your chosen coding language
- Testing your platform and having others test it as well
- Marketing your product once testing is over, to attract a wide audience
There are many other things in between these points that you will need to do in order to successfully launch your new product. And along the way, you will most likely learn some things, and the skills you will learn are very valuable. In order to keep your mind focused and sharp, essentially you should get used to creating or coming up with new ideas every few months. This doesn’t mean that you should build new companies every few months, it simply means that you should get used to the process of creating the foundation for a new idea. In the least, jot down your new ideas on a notepad or in the cloud so that you don’t forget them.
Not only will this keep your skills sharp, but when you do succeed in one of your ideas and potentially earn a sizable income you will have a plethora of ideas ready to take to the next level. Not only that, but investors do invest in entrepreneurs as well as ideas. They will like the fact that you have a whole portfolio of ideas waiting to be created. Not only will you be an expert at starting a new company, but you will know the ins and outs of how to manage each aspect of the company, including the employees needed to run each department.
If one day you decide you’d like to be a consultant and help other companies succeed in various different ways, you will have the skills, knowledge, and resources available to do just that. New products, platforms, tools, resources, and design specs come out every day. Companies like Google and Apple set new standards for UI/UX, so it’s good to keep up with all of that incorporated into the daily routine of your startup. If you follow this advice you will always be up to date, and you always have the newest and best practices engrained in your company.
Worst case scenario, if none of your ideas ever get to a Series A funding round, or earn you enough revenue to quit your day job, you will still become an expert at building a product. Luckily in this day and age, that is a valuable skill to posess.
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