Entrepreneurship Start a Startup Muhammad Fahad http://muhammadfahad.blogspot.com www.folio3.com Introduction • Engineering Director at Folio3. • Member of the Visiting Faculty at Sir Syed University. • Member of the IEEE Computer Society. • Member of the ACM. www.folio3.com www.folio3.com Folio3 • • • • 80+ employees. Own structure at Shahra-e-Faisal. Exciting opportunities for Learning and Growth. Fun-loving environment. www.folio3.com www.folio3.com Lets Get Busy… www.folio3.com Some Examples • Fahad – 5+ yrs – Techlabs (www.techlabs.us) • Ahmed – 1 yr – Tech Weavers (http://www.techweavers.com.pk/) • Ayaz Baig – 2 yrs – Fission Soft (http://www.fission-soft.com/) • Waqar Rehman - 1 yr – 4 Ace Technologies (http://www.4acetech.com/) • Farhan - 2 yrs – Apace Solutions (http://www.apacesolutions.com/) www.folio3.com www.folio3.com Entrepreneurship • Wikipedia says, “Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities.” www.folio3.com www.folio3.com Rules of Thumb • The Idea • People • Customer’s Needs www.folio3.com www.folio3.com The Idea • • • • Innovation is required but not mandatory. Offer people better technology. Look what people require. Present in a way that it doesn’t suck. “Good people can fix bad ideas, but good ideas can't save bad people. ” • Take an example, www.folio3.com www.folio3.com Google • Google had 3 ideas, – – – Index more of the Web Use links to rank search results Have clean, simple web pages with unintrusive keyword-based ads www.folio3.com www.folio3.com I Came Up With An Idea • Educational Networking!! www.folio3.com www.folio3.com People • Is the person genuinely smart? • Can he actually get things done? • Can we stand to have them around?* • Some Suggestions, www.folio3.com www.folio3.com People (Cont.) • Ideally you want between two and four founders. • Founders should include technical people. www.folio3.com www.folio3.com I Selected A Team www.folio3.com www.folio3.com What Customers Want? • In nearly every failed startup, the real problem was that customers didn't want the product. • It's worth trying very, very hard to make technology easy to use. • If you're developing technology for money, you're probably not going to be developing it for people like you. www.folio3.com www.folio3.com What Customers Want? (Cont.) • Start by writing software for smaller companies, because it's easier to sell to them. • The products that start as cheap, simple options, tend to gradually grow more powerful. • It's very dangerous to let anyone fly under you. If you have the cheapest, easiest product, you'll own the low end. www.folio3.com www.folio3.com I Targeted My Users • Followed Trends in US. • Adopted localization strategy. – apnakarachi.com – jang.com.pk • Early Launch • Marketing!! www.folio3.com www.folio3.com Who Should Start? • Someone who is a good hacker, between about 23 and 38. • Someone who wants to solve the money problem in one shot instead of getting paid gradually over a conventional working life. • Consulting or Product?* www.folio3.com www.folio3.com Q&A www.folio3.com www.folio3.com
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