My second set of notes is from the presentation given by Peter O’Neill, Founder at AppMajik. He tells us that even though lots of startups think big, small is beautiful too.
Journeys, inspiration, insights:
Peter O’Neill, Founder at AppMajik
- Most people start in a services-based business, trading time for money
- It’s better to create a product and to sell the product and not your time, because it creates scalable business
- Starting in a services-based business helps you learn your customers’ pain points
- When you know the pain points, you can build a product to address them; fulfil needs, create product from this
- A scalable business is repeatable
- Find your niche, and be awesome
- Internationalisation is about being niche: not being everything to everyone
- Small is beautiful
- In business there’s a Golden Rule of 3 (people): easy to align with your vision and keep your efficiencies
- Micropreneurism is about lifestyle – and lifestyle businesses are still cool
- Micropreneurism requires less money
- Bigger falls harder
- In a lifestyle business, you can connect and contract instead of recruiting
- You are not your business.
Did you get something different? Share your notes and learnings in the comments.