Do you want to undertake but don't know where to start? What's more, don't know what to do to succeed?
In this PocketBook, we will learn from who went where we wanted and was responsible for building one of the biggest technology success stories in the world.
All content is based on the reality of Brazilian entrepreneurship, presenting solutions to the yearnings, doubts, and fears of many who intend to undertake or already undertake.
In addition, you will see the steps, with details and examples, that an entrepreneur needs to go through to achieve success.
So let's get started on this journey, it promises to be transformative!
About the book “Nada Easy”
“Nada Easy” was published in 2017 by author Tallis Gomes. His main goal is to present the true reality of entrepreneurship in Brazil, as well as to provide effective lessons and shortcuts for you to adopt in your career.
The content of the book is based on the author's mistakes, pains, and successes during his participation in Easy Taxi and all his accumulated experience of 15 years as an entrepreneur.
In this way, Tallis presents a true step by step for those who want to undertake, from how to consolidate your idea to how to take your business to other countries.
About the author Tallis Gomes
Tallis Gomes is a young entrepreneur who accumulates several titles. Already elected as one of the most innovative young people in Brazil by MIT, entrepreneur of the year for 2 consecutive years at LIDE, he lectures to the best universities in the world, and many other qualifications.
In addition, he was primarily responsible for founding and spreading Easy Taxi to 35 countries in less than 4 years, making its sale the third-largest outlet in the Brazilian ecosystem.
Currently, Tallis serves as CEO of Brazil's largest beauty marketplace, Singu.
To whom is this book indicated?
Do you want to venture, but don't know where to start? If your answer is yes, this book is for you!
What's more, content is also ideal for you who want to open, scale, and manage a startup, and is a true innovation handbook for large organizations.
Main ideas of the book “Nada Easy”
- A company's only long-term competitive advantage is called “good people”;
- The first step to undertake is to substantiate an idea that is viable;
- Failing to analyze the market is a mistake most entrepreneurs make;
- MVP (“minimum viable product”) is the best way to validate your product;
- Feedback and continuous creation must be in parallel with your MVP;
- Have members with a different set of skills than yours;
- Doing things alone is much more difficult and time-consuming to reach success;
- Never outsource IT;
- Formalizing contract responsibilities is a great way for you to be secure;
- Avoid bureaucracy and processes that hinder innovation.
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Overview: Gather a Viable Idea
Tallis kicks off “Nada Easy” by saying that throughout his career as an entrepreneur in over 35 countries, he considers Brazil as the most difficult country to do it.
But still, there are great opportunities you can create to put your idea into practice, and that's what it teaches us.
To start your business, the first step is to think of a problem no one has solved yet and its solution; They are infinite niches in which you can act. He explains this concept based on Chris Anderson's book "The Long Tail". Basically, the idea is that instead of selling a lot of just one product, you sell smaller quantities of several products.
Tallis describes how the idea of Easy Taxi came up. He tells us that on a rainy day, at night, he called a central office asking for a taxi and waited for hours, to in the end not getting the service
As a result, he went home in the rain, pondering the situation and thinking, “What if you had an application that was to find taxis?” That would solve his pain and that of many others, not just on rainy days.
That way Tallis says his idea needs to stop stand on it’s own, so it's no use being something very complex or too dependent on other ideas. And anyway, you'll always get criticism, especially if your idea is very disruptive ideas.
Once your idea is established, “Nada Easy” presents time to take 2 new steps; they are:
- Size your market: You need to understand the market in which you will operate. So gather information (look at statista.com), talk to stakeholders and potential clients, and do whatever you can to understand the problem you intend to solve.
- Create your Canvas: This is the time to organize the information, and truly put it on paper. Canvas is a diagram that allows you to understand your business model perfectly. One book that can help you a lot at this stage is the “Business Model Generation”, which deals specifically with this tool.
Overview: Turn Your Idea Into Product
Before launching his product definitively, Tallis proposes to us and says that with the case of Easy Taxi used the concept of MVP (minimum viable product). But what does it mean?
Well, it can be understood as a prototype that solves our client’s problem. It has to be built simply, quickly, and inexpensively. This way you can validate your idea with minimal effort.
To better understand MVP, let's exemplify this based on what Tallis presents in his book.
Let's believe your idea is to build a car, okay? However, it is a high investment, high assembly complexity, and many components. So what would be the minimum viable product of this? It would be a wheel, right?
Wrong! Let's try to think about the value you want to deliver to your customer. Probably a car seeker wants to remedy a mobility problem, so a wheel wouldn't solve the customer problem.
One proposed solution is a skateboard, as it would be able to move from point A to point B. So when you launch this MVP, it is essential that you focus on two other points:
- Feedback: This is a continuous cycle that indicates the points of improvement of your product.
- Adjustments: Getting the feedback and focus on continuous construction. In the case of a skateboard, for example, the feedbacks implemented would be to put larger wheels, a handlebar for better balance, motorization, a carcass so on, and so forth until you get to the final product, i.e. the car.
You agree that the Skate is very different from the car, isn't it? But it solves the pain of your client. Tallis warns that it is better to launch MVP and make adjustments according to feedback, then to take too long and launch a very complex MVP. Remember that "done is better than perfect."
Besides the feedbacks, “Nada Easy” presents that an efficient methodology that can also help you in this stage is the net promoter score (NPS), it will evaluate the satisfaction of your customers. Finally, pay attention to focus on your specific niche, after all, it is better to serve a small group of people in an excellent way than many people in a mediocre way.
Overview: Build Your Team
Who is responsible for the quality of staff and hires? We often hear answers like HR. But for Gomes thinks it's different, he considers that an entrepreneur's main activity is to hire the right people and take care of them.
Thus, to start hiring and build a strong team, three different professional profiles are needed: one salesperson, one developer, and one organizer. These profiles have the skills you need for success. After all, alone it is much more difficult and time-consuming to reach success.
But finding the right people is also a very difficult and time-consuming task. So the first step you should take is to find your members based on the above characteristics.
In tracing the desired profile, we are looking for this future professional. To make this easy, you can look at profiles on LinkedIn, at companies that assimilate the values you're looking for, and at events and lectures.
Interviewing all the time is a mandatory step in Tallis's vision. He says that when he finds a good person, he immediately schedules a meeting with them, even when he doesn't have an open position because it's important to have good people in sight when opportunities come up.
Thus, he makes use of a selection method that consists in analyzing the candidate's learning ability, level of engagement, and independence.
Soon after, is the time to evaluate your:
- Alignment with the organizational culture;
- Alignment with the vacancy;
- Technical knowledge for the function;
- Potential to form successors who can assume their role.
In addition, it is important for you to disseminate that the responsibility for bringing good people to the team lies with all members and must occur on a constant basis.
Overview: Legal Protection
Now that we have gone through steps that have added so much value, I bet you are excited and your will is immense to continue to undertake. But we need to be supported by legal issues because we are embedded in a multitude of laws.
It's not because your business is a startup that needs to be completely informal, we need to ensure minimal security. Make a liability contract with partners and employees, containing the responsibilities, deliverables, duration, costs, and a contract termination assumption.
It can be something objective and of course, nothing very complex. The important thing is that you do not act informally; Tallis says, "It's better to change something later than to start with nothing and take the risk."
When drafting contracts, don't be afraid to split your actions, as you need good people on your side to win with you, and if you have no one, remember that 100% nothing equals nothing.
Overview: Raise Capital
To get a good investor, you need to show value to them. According to Tallis Gomes, the most important is his commitment as an entrepreneur, the differentiation of his idea, and a team with the ability to execute the idea.
Having these points, you already end up in front of many entrepreneurs. But to do even better, see the other 4 points listed by the author:
- Never close a door: don't lose touch with potential investors, networking is key;
- Create a spreadsheet to track the status of your conversations with potential investors: rather than just having the information, it is best to have it organized;
- Prepare your pitch deck: Your presentation should be objective as the investor has thousands of more proposals to evaluate;
- Email each potential investor individually: it should contain the problem you want to solve and the investment required, never send this email in blind copy.
Well, now that we have a direction of how to attack investors, we have to be aware that mistakes we can't make at this stage; The main ones are:
- Not having an MVP running;
- Doing very little research;
- Giving up on the first “no”;
- Buying growth;
- Believing that the key objective of the entrepreneur is to earn investment.
Overview: Scale Your Business
So, do you know the real meaning of scale?
It consists in making your business grow in numbers of demands and volume without having many costs. And for Tallis in “Nada Easy”, it is undeniable that this growth will occur along with the consolidation of your presence in the market.
In addition, he says having structured processes is essential to achieving success at this stage. But you need to be careful about the multitude of processes, the bureaucracy and everything that blocks innovation.
So try to understand only what is needed for growth. There are many unnecessary processes, and one of them is a large amount of meetings.
Tallis says the true entrepreneur puts his hands on all areas and has no time for meetings. The ideal thing to do is to structure your KPIs in a meeting with the directors and then go straight to execution.
According to the evolution of the business, it’s time to think about expansion. Therefore, the idea is to hire someone from the desired area, the person understands and reacts better in this environment. In addition, we will introduce you to the walkthrough for expansion referenced by Tallis:
- Find a local corporate office and check the main laws and regulations that will impact your business;
- Make a market viability analysis. To do this use statista.com and study the addressable market size and all the impacting factors;
- Set up the legal framework to get you started with your office locally;
- Hire a country manager;
- Set up the office - A good way to get started is to use a local coworking space;
- Kickoff the operation with the country manager.
Finally, the author discusses how he used the growth hacker to achieve results at Easy Taxi. This concept can be understood as a type of marketing focused on business growth.
What do other authors say about it?
The book “The Hard Thing About Hard Things” presents the author's Ben Horowitz own experiences on overcoming difficult times when one wants to undertake, and details decision-making when your business starts to grow.
Author Mauricio Benvenutti, in his book, “Inexhaustibles” says that good execution is ten times more important and a hundred times more difficult than a good idea. In addition, this work shows how a new group of entrepreneurs has been infusing an entire generation with brilliant ideas and hard work, teaching them how to prepare for the future.
Finally, we also have “Innovative Entrepreneurship” in which Nei Grando reveals that there are many ways to undertake. The internet, smartphones, and the development of computing power have realized many previously unviable ideas. At the center of this evolution are technology startups.
According to Nei, entrepreneurs learn even more by experiencing and testing the possibilities of their ideas. What needs to change and what works. Thus, it presents principles that can leverage the chances of an entrepreneur achieving success.
Okay, but how can I apply this to my life?
The entire step-by-step has already been presented, now it's time for you to take your idea off the paper and start structuring each of the stages in your entrepreneurial journey, after all, as Tallis says in his book, “An idea is worth 10 cents a bowl ”.
So run! The road is long and difficult. But remember, if you don't start now, someone else will do it for you and reap the results you wanted.
One last tip that Tallis presents at the end of his book is the following: "NEVER trust the state". For him, the state will want to destroy its business anyway, so if your customer is the state, modify your business model.
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