Do you really need the money?

It is amazing to see little kids fresh out of college wanting to become entrepreneurs, met loads of them at a recent startup saturday that I had pitched at. 

After chatting with a few of them, a pattern I observed the most was:
1. I need money to startup.
2. I will put forth the best product(s) I can make, then people will come.

No and No.

Let me explain. You might have setout to make something really different, but this is what I learnt from my first service based startup - LetsCreateCrafts

1. You don't need money to startup - atleast not loads of it - not even the amount you have in mind right now. No.

Startups are all about value. 
There will always be someone who you can give value to (your initial customers) and someone who you can take value from (your initial sellers). These transactions need not be huge, start with smaller amounts of money. People are good. Period. There will always be someone who is willing to help you.
Plus, you don't need a plush office space, you don't need that Fast-track watch, you don't need that shopping trip. Rule - anything that you are not dying without(sorry for being so blunt)  or something that is not stopping your work - need not be purchased. 
Trust me when I say this. It can wait. Buy them from your 'assets'.
Good book to read - Rich Dad Poor Dad - by Robert Kiyosaki 


2. I will put forth the best product(s) I can make, then people will come.

Thanks to our academic colleges, young entrepreneurs want to put forth their 'best'. Remember the projects and thesis you were graded on? Yeah!?

Welcome to the real world. 

While you are spending your time making that 'awesome perfect product', here are things that could happen - someone else makes it - or you forget what you initially setout to make and create something else - or the best one, you give up - and after you have (luckily) launched your product - not many care. Sounds familiar right?

Stop what you are doing and read the book - The Lean Startup by Eric Rise - one of the best books I have read! He talks about something called as the M-V-P. In long - Minimum Viable Product - and this is what you must be building - first. 

For example, if I was building a platform where people can purchase craft supplies from, what is the first thing I should do? I know the programmers among you would rush to find the best ecommerce platform, amazon web services, links to etsy, pinterest api, wordpress themes, hire awesome photographer.. right.. ? Wrong. The first thing that you need to do is answer this question - who wants these products? and where are they located? Call up a few crafty lady friends and see where they get supplies from and what problems they face? Try selling your stuff to them. Once that works, good! you have market. Next, try taking some 'good-to-go' pics, put them up on a blog and give your number to call if someone needs it. Try and sell them now.. 
Build your product in steps. Make a step, test it, mend it after feedback, and build another one.

That is all I have for now! 
Have a happy day! Let me know if you have any questions.