It's been awhile since I've posted to this blog, but it is a great time for us to share experiences. The doom and gloom backdrop of the overall financial markets could have the effect of driving entrepreneurship to the back of the bus. However, this is really an opportunistic time. If you think about it, companies large and small are facing the same playing field. So, no one gets too far ahead. If you've got a new idea, you'll have more time to get it right. If you want to think about a new idea, you'll get mindshare from everywhere as people have time to give you specific feedback on the viability of your idea.
Here's my advice, in these distressed times customers will buy if your product or service 1) makes money or 2) saves money. It's pretty simple. Choose a big market opportunity, make sure you've got differentiation, and hone your go to market strategy.
For me, I've been entirely engaged in launching a new company in the energy efficiency sector. The company is called HID Labs and the product is targeted at commercial, industrial, and warehouse lighting. It turns out, the cost of lighting in warehouses is over two-thirds of their fixed expense. So, I'm after the 'saving people money' paradigm. The company is young, has big plans, and faces all the challenges start-ups have. But, we've got a shot if we execute.
Over the next few months, I'm going to write about launching this company and hopefully impart some nuggets of information that you can use.
All the best and start thinking of new businesses.
Steve, Peter Hero asked me to reach out to you regarding a highly leveraged grant request from Alum Rock Counseling Center (www.alumrockcc.org).Please contact me at your earliest convenience. Peter is on our Advisory Board.
Nivisha Mehta, Director of Development, Alum Rock Counseling Center, former SV2 partner and Advisory Council member SVCF.
nmehta@alumrockcc.org
Posted by: Nivisha Mehta | April 22, 2009 at 11:26 AM