People tend to stay away from starting businesses because of 3 things. They usually lack money, skills, and an idea. Did you ever think you could build a technology business without these 3 things? It can be done, and this week on The Phat Startup Show we tell you how with Josh Isaak Co-Founder and CEO of MySky. He is also the Founding Advisor of GuardConnect. At 26, he decided to approach the online software world and has started up two SaaS businesses without coming up with the business idea or having the technical know-how. He tells us how we can #bossup just like him!
Josh grew up in Canada and secretly wanted to sing to thousands of people. Since that didn’t happen he uses music to recharge and is a big fan of Drake. Before starting a tech business he had no experience in tech period. Before dropping out of college where he was studying business, Josh got involved with a painting franchise called College Pro. While many pay for a degree in business, Josh was paying to learn how to run a real business. As a franchise owner, he learned how to hire, fire painters, and how to run a business from the ground up. This would later encourage him to tackle bigger problems. Not to mention, he dropped out of college to take on the entrepreneurial life. He believes that the best learning is practical, hands on work.
So how do you go from running a franchise to building a tech business with no money, skills, or idea? Josh fills us in and doesn’t hold back. He walks us through the lessons he learned from The Foundation and how he has used Lean Startup principles to create value. He tells us how we should list out various industries; pick one industry to focus on, and then how to do idea extraction on that industry. This covers the no idea portion. He guides us on his procedure to do this by using cold emails and one on one phone conversations. He tells us how he finds emails of businesses, how to setup the email, and his process for the actual phone call.
Josh believes that it is best for you to extract the challenges and ideas from the market instead of assuming that you know what they need. After he finds common problems and pulls out an idea to work on, Josh will then focus on building the actual solution. He tells us how relationships can work in your favor during the build out whether you outsource the coding or find a cofounder to do it. Josh guides us on setting up your beta program, getting beta users, the length of the beta and how to set the right prices for this. Worried about the learning curve? Josh even covers that for us.
Josh gave us a step by step guide on how he creates technology based business using lean, so grab that pen and paper and learn! Free executable advice from Josh, that’s a win in my book.
3 things he would tell his younger self:
1) Get your mind right, be ok with failure
2) Don’t believe in the word impossible
3) Relationships matter, cultivate them