the goose

While contemplating the inner workings of a Ruby on Rails project for a Dublin client and listening to VentureCast, I came across a reference to Loic Lemeur’s take on Why the idea doesn’t matter. Loic has an interesting little top ten tips for starting a business. While Loic is dealing in a high-orbit stratosphere compared to the size of projects I involve myself in – there is something there for those merely looking to never have to work another day of their lives.

Number one on the list is “simple exciting empty space you see and execute as fast as possible”. This is something I have personally been coming around to recently and feel like it finally helps to shed some light on when seeking funding really would make sense. Recently a business development manager from an Irish Telco dropped me a note enquiring about SmartNote’s SMS podcasting solution. For me – using traditional telco technology to get podcast material from the cloud and into peoples ears is a no brainer. My old man’s iPod still has the same three tracks it had when I gave it too him 3 years ago. There is however – tonnes of bizarre podcast material out there on the web that would never merit a place on traditional broadcast media but he would be really interested in. Whoever can let my old man get this content without every hearing the word ’sync’ will win big.

I am not backed and I chasing down this opportunity could cost me a fortune in time. More than I have to spend while still paying down the mortgage. Getting investment to chase the opportunity might be an option – but in my heart – its a wee bit risky for my blood. I’d prefer a smaller safer bet. It does however – remain a nice niched space that deserves some fast attention.

I am not so sold on Luic’s 8 and 9 on the list while 10 – “do not focus on getting rich or selling your company, focus on your users, money is a consequence of success, can’t be a goal” seems just wacky. Businesses are in business to make money – period. If you don’t focus on that – you will be very lucky to achieve it- or fulfill your potential to achieve it. That is not the same as peeving off your customers for the sake of an extra buck. It does mean that if you have some other lofty goal other than making money – find some safer place to achieve it than in a startup.