“Keep it lean and only use resource when you need it. It takes a bit of ‘mental calibration’ to get that mindset right,” says Sebastian Voss of JFDI Discover startup Instant Edge.
1. Tell us about your startup and team – who are you, and what are you aiming to do?
My business partner Mathias and I put our consulting careers on hold to focus exclusively on designing and building a product that solves innumerous problems seen in every single project that we had led as project managers or advisors.
We think that the way the market is currently ‘served’ is too fragmented and too focused on experts as end users. We want to change that – with a big vision in mind:
Instant Edge – a collaboration platform for every single change initiative, project, program & portfolio across an enterprise (incl. customer, suppliers, partners) that enables stakeholders to execute their jobs with more predictable & robust process outcomes. Users can receive status and progress updates in real-time by offering an end-to-end process & management framework – enabling better decision making, reducing project failures & improving quality of delivery.
2. How did you hear about JFDI Discover?
We got to know JFDI Discover through friends involved in the Singaporean startup community. It was recommended to us as good way to get to know like-minded people, as well as to help structuring our own endeavor and get familiar with how investors, mentors, peers, etc. look at a value proposition.
3. Why did you start this business? How has this impacted your life?
See a need, fill a need – we’ve repeatedly encountered how projects go south simply because the way they are managed is so dependant on the single individuals that drive them. Business user-driven IT solutions can make a tremendous difference in the way corporations execute their business processes, even in the ‘traditional’ enterprise software space – something we have seen first-hand in our most-recent consulting engagements.
It has been tremendously fun to go through the initial stages of a startup lifecycle. We can merge our own IT/project management experience in the enterprise space with constant client interactions to validate our thought process and to gather feedback – with resoundingly positive responses so far!
4. What were some of the challenges you faced before joining JFDI Discover?
Building a product from scratch has its obvious challenges: Making sure to set the right priorities, focus on the right value drivers, etc. is crucial to not waste resources where they do not have the right impact. It takes a bit of ‘mental calibration’ to get that mindset right.
5. How did JFDI Discover help your startup?
The Lean Canvas approach as opposed to a full-fledged business plan exercise kept the process very targeted and pragmatic. It helped in breaking down customer segments given that different target groups do complicate the go-to-market process slightly. Striking the balance between where shared interests are and where specifics are needed was key.
Interaction with JFDI mentors and using the provided resources allowed us to better understand the perspective of how investors might perceive our ideas. I think we now have a much better notion of what it takes to have targeted & meaningful conversations with early adopters, partners, and potential risk capital providers.
Overall it was a very valuable exercise to confirm some of our assumptions, approaches, etc. but to also stream-line the thinking process of how to spend the scarcest resource of all more wisely: time.
6. What was your favorite and least favorite aspect of JFDI Discover?
Time is precious indeed, and perfection remains the enemy of progress. Managing your own time efficiently is a challenge, particularly in a 21-day-long JFDI Discover program. But hey, I am sure that’s by-design.
7. What is the one lesson you took away from JFDI Discover that you think other founders should know too? (Why is it important?)
The inevitable ‘reality distortion field’ is a powerful force to prevent you from seeing your product, idea, and target market from the most-important perspective: your customers. Even though we may all love our own product with all its cute technological bells-and-whistles, it is imperative to constantly keep an open channel with whom you target your product at.
Consequently, spending A LOT of time with potential clients is key, having a relevant and large enough group of early adopters will make or break a venture in our view. That will also ensure that you keep the scope of what your initial product entails minimum viable and prevents you from over-engineering it.
8. Where is your team planning to go from here?
Having constantly validated the requirements with our early adopters, we are now building the initial capabilities that we intend to launch in ~6 months time. Going to be a challenge – but we would not want to have it any other way.
9. Which resources do you look to for startup related advice? Have you read any books on startups?
There are tons of resources out there to get a grip on what it takes to start up a business. The classic is ‘The Lean Startup’ which is a must-read for any entrepreneur, and ‘Venture Deals’ if you are keen in getting access to venture funding. Beyond ‘paper’, there are, of course, experienced people in our network that we go to for advice. Then, there are great blogs out there where people share their experiences.
Thinking of starting your own business? JFDI Discover will help you find out if you really want to be an entrepreneur. It will reveal if your team is aligned to deliver results. And it will show you how to solve a real problem for customers who are willing to pay thus moving closer to a “problem-solution fit”.
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Cui-Lyn Huang is on the Editorial team for JFDI Asia. Currently pursuing a combined major in Computer Science & Journalism at Northeastern University in Boston, and after growing up on the little red dot. She loves to write, she loves to eat, and loves to write about eating.