Many times, we come up with business ideas, but we often get stuck on really clarifying those ideas to a point that we cannot even sell those products and services. Orin Davis, a New York-based startup Advisor shares his tips and tricks on what he is using to really clarify that get your story out there and be heard by your customers.
In this interview, Orin will be sharing 4 Key Things that every entrepreneur needs to know in order to create a business and attract more customers.
- Realize that you don’t have anything. Businesses, Startups and Entrepreneurs alike have a good idea for a product but don’t know where to take it or how to market it or explain it to others. Orin explains that they thought they did or made this thing and then realized that somebody else has already done it but they didn’t really get a good look at the market or they realized that as much as they have invented this, there is really only a small group of people that are going to want it. If this happens do not be discouraged and prepared to pivot. A lot of great startups were pivots. Instagram is a total pivot. Getting the right team together is a worthwhile endeavor – as having an amazing team will let you as an Entrepreneur/Startup try a new project again.
2. Dig deeper into the product idea and on the first principles of the product. This is where Orin mentions, “You need a good philosophy underneath your company and a good culture.”
3. Ask the Five Whys. Asking the Five Whys helps to dig deeper into the first principles or core values of the company.
- Why does the product/service exist?
- Why the product/service really needs to exist?
- What are the reasons why the product/service exist?
- Why did you think of offering the product/service?
- Why do you think people need your product/service?
No matter the questions, you have to make sure that you come up with FIVE WHY Questions and be sure to be able to answer those said questions.
4. The “Forced mashup” technique. It is a technique of comparing your company or product to any household object and seeing it from a different perspective. It’s like looking at an entirely new dimension you haven’t thought before. This technique helps in collaborating with new ideas. A good example of this is the Travelpreneur Tribe CEO and Founder, Mia Scuric to compare “Travelpreneur Tribe” with “a drinking glass”. Travelpreneur Tribe can be compared to a glass filled up with all of the ideas of starting a business or something that brings people together.
This is another video you can watch and learn from (also don’t forget to share):
If you want to know more about Orin Davis, this is his bio:
Orin Davis started his career in high school working in a pharmaceutical R&D and was going to major in chemistry but ended up with a Degree in Neuroscience. He worked at Mass General doing neuroscience for a couple of years and moved into educational consulting. He also has a Ph.D. in Positive Psychology and Organizational Behavior. He was thinking about a 100% academic career, but then the startup world found him and he liked the idea of doing some applied work because he didn’t want to be locked in the ivory tower. He joined a startup as the Chief Science Officer of Selfspark and kept on moving from there. Startups kept coming to him asking questions and it turned out that he had answers for them and which turned out to be the result of his research, creativity, innovation, business, neuroscience, positive psychology and even chemistry.
He is a self-actualization engineer who enables people to do and be their best. On one side he focuses on human capital and on the other side he focuses on creativity, innovation, and positive psychology. He works with companies of all sizes and much of his consulting practice specifically focuses mostly on how companies can get the most out of their human capital. How to make the ‘right hire’ is one of the main lines of his specialty. Companies approach him with all sort of human capital issues varying from writing a job description to handling sexual harassment issues.