This post is part of a series, a diary of starting a business if you will. It follows part 1, the decision of becoming an entrepreneur.

One thing I found out is that it’s hard to put your responsibilities down on paper… there are so many!!! There is of course a basic job-description, which more or less sounds like that of a project manager/pull-the-rabbit-out-of-the-hat magician: “make it happen that we go from this thing on paper to the product in the hands of customers.” “Make it happen” is a super-loaded phrase, which can mean countless things.

There is a continuous struggle between micro-management and keeping the overview. Micro, because it is your responsibility that every (little) thing is carried out by your employees (if you have them). Overview, because You the entrepreneur are The Organisation. There is a third struggle that shouldn’t exist really, that between your professional life and your personal life. I’ve come to the conclusion that the only way to do this thing well is to focus on it exclusively. Friends, family, love, …blogging… it’s a nice luxury to have, but it comes second place.

The responsibility of an entrepreneur are thus: have a goal and make sure that everything is executed to get to that goal.

In a technology company, there are matters of technology and business (really, in what business except for strategy consulting isn’t there a mix of “technology,” which can mean anything from cooking to software development, and the commercial side of things, which is meant to pay for everything?). What I found was that as someone with a business background, who sort-of-kind-of has an idea about product development, and has a better grasp of business development, I still can’t let go of the reigns of product development entirely.

Product development ties in directly with business development. People are unwilling to pay for something that doesn’t exist and similarly our budget is supposed to last us until we have something worth paying for or investing in. Therefore, as an entrepreneur I have to make sure that product development stays on track. The absolute best way to do this is to have a capable product development manager in charge. The truth of it is that startups by their nature are resource-poor, which includes tripple-A product development managers (probably employed at multinational X or Y somewhere), and there is a lot of learning/training on the job. Learning/training means that the (hopefully) existing product development manager (in our case yes) still has to be managed, through schedules and regular meetings. In any case, product development is in its conceptual stage a very brainstorm-friendly activity, which means the more the merrier. But ultimately, a startup must get beyond this stage, respecting the entire resource-poor situation that a startup usually faces.

So, responsibilities of an entrepreneur as far as the technological product development is concerned: If you have a product development manager, you have to make sure that he works under the realities of the business. If you don’t, which I imagine many 1-person software startups operate under (as well as those lucky strategy consultants), well then you have to do the job of product development as well, keeping a close eye on the business realities.

OK, the business part of things. My role is fairly well-defined here as I come from a business background and approach startups from a business perspective. Assume that role 101 is having a firm grasp on everything that goes on, which can be phrased as “where are resources (people, time, money) being expended at and is it wise to do so.” This entails having a good budget plan and sticking to that.

Role 102 is to build the business, which I call business development, but that often gets confused with sales as that that is what it says in job adverts. Business development is the building of the business, which includes sales, but also includes building the company and all that entails.

So, we are trying to get from point A to point P, how do we go about it? If product development is about turning an idea into a product, business development is building a business plan into a business. Business plans are total BS unless they contain validated information. Some key-chapters in business plans are the market overview, the market approach, the time-line, and the financial need to meet all these objectives. Business plans can serve as a. cannon fodder, b. a plan of approach, c. one of several signals to attract investment. For c. no investor will take a look at your business unless you have a plan of approach (b.). On that plan, there should be a time-line, which you are following (predictability!) and there should be a goal: the market you are targeting and your approach.

The market section of the business plan presents a big problem for technology entrepreneurs. Because (non!) customers often don’t know what they want. I can ask a target group “what kind of air do you like to breathe?” and it wouldn’t surprise me if a significant number of responses would say: “I like to breathe air that smells like perfume.” OK, that’s a terrible question, but what I mean is that people sometimes make up answers that have nothing to do with reality (that said, both the perfume business and the fast-food industry have made lots of money from essentially selling air that smells good. Scent is also plays a very important part in memory, but I digress…)

What I’m a big fan of is validated market data, which is data gathered from actual customer experience with your product or part of it. That brings forth another problem of a bias towards early (and over-excited) adopters, something which the book “crossing the chasm” deals with, but is really not something that I think is realistic to address at an early stage, except that validated market data can also come from experts in the markets you are targeting.

The implication is also that product development is again completely tied in with business development which leads us down the path of rapid prototyping, another practice that works great in software / on the web, not as easily (though not impossible) with hardware. In any case, the experts in this area most well-known today are:

• - Steve Blank, who wrote “The Four Steps to Epiphany” and is currently hosting the excellent Stanford’s Entrepreneurial Thought Leaders seminars (btw. Steve Blank also writes a great blog on customer-focussed development, which I’ve only just started reading.
• - Eric Ries, who authors the blog Startup Lessons Learned and has some great articles on responsible (=lean) development.
• - And Donald Reinertsen, who wrote an incredibly dense book called “Principles of Product Development Flow,” a book which is clearly an authority in the field, but which I cannot recommend to any sensible entrepreneur with a 60hr/week schedule. Those principles, by the by, number in the 100+.

As well as of course Toyota and plenty of other experts out there, I’m sure, many of which are referenced by the people mentioned.

I think that it can safely be said that task 3 or a sub-task of business development is working towards the customer, the lifeblood of a business.

There are other tasks of course, which have to do with human resources, legal work, accounting, etc. Some of which can be outsourced, some of which can be done half-heartedly (oh no, I didn’t say that), some of which are really-really important, etc.

All these tasks, however, require a certain authority. The entrepreneur’s responsibility is to either be an authority on a task level or to be sure to work with authorities, either in the company or in an (informal) consulting fashion, so that they are carried out responsibly.

Task 4 can thus be entitled: be an authority on the tasks that need to be carried out or have access to one.

So, a whole can of worms starting a company can be and it is vital that it does not interfere with the single most important thing that you must do as a human being: be healthy! Health is part sleep, part exercise, part food, part love. There is no yin without yang and vice versa. Thus forget everything I said about personal life being no. 2. The best is if it reinforces what you do in your work. Health leads to happiness and happiness leads to optimism: a key-quality in entrepreneurship if there ever was one.

So the responsibilities of an entrepreneur summarised:

• 100: keep your eye on both sides of the court: the goal & the resources needed to get to that goal
• 101: align Product development with Business development
• 102: always validate your market data by staying close to your customers
• 103: be an authority on the tasks that need carrying out or have access to one
• 104: stay healthy and happy.

This was written in a single session with minimal editing. I hope it kind of makes sense. Part 3 of my e’diary will be on the topic of: can you prepare for entrepreneurship? As I have a master in entrepreneurship, I thought it might make for an interesting perspective. All my entrepreneurial diary posts can be followed under the tag ‘Vincent’s eDiary.’ By choice, I’m being mysterious about my company. If you have questions, feel free to comment or write to me via the email address on the right.

Picture courtesy of Be The Dream.

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Just briefly, as the only reason I’m standing is due to the fumes of caffeine, rather than a good night’s sleep.

I just finished going through the Lesson’s Learned blog post on “The Principles of Product Development Flow,” which I think is an excellent review of a book that I does not seem to be on public release yet for us Europeans. Well, you could order it from Amazon.com.

I’m fascinated with things like lean manufacturing, total quality management, agile development, etc. Basically, product development, which Eric enticed me with, as it’s the crucial link between invention and commercialisation (aka the definition of innovation).

That said, product development is something that you best learn in university and not (just) from a book. Several reasons:

• anyone can say that they read a book
• there are no tests at the end of books, no accreditation for you.
• it’s a singular view at a problem, while in a course you (hopefully) get presented with multiple views
• you equally don’t have your peers or teachers to discuss problems and solutions with.
• And, the most important reasons of all, a good university provides a link between theory and application, by providing you with opportunities for doing internships and/or jobs.

None of this is sadly provided by books and is why I feel that reading a book on product development and management will only help someone actively engaged in this activity and/or doing a study in this field.

That said, I think that those are all areas where bloggers, authors, companies, and educational institutes can do a lot about improving the system of learning and particularly the link between learning and application.

Just my point of view, I’d love to hear yours.
Vincent
(Picture courtesy of sinesoflearning.blogspot.com)

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I think I’ve just discovered a new hero of mine in the area of blogging. Her name is Penelope Trunk and I really like her writing style as well as the focus of her blog/site/company, called The Brazen Careerist. Previous heroes include Fred Wilson, whom I also like for his style of writing, and, I’m a little ashamed to say, Robert Scoble.

The way that heroism works for me is that I start writing like these people. Scoble has this habit of asking himself questions like “Why do I like Friendfeed? Here’s 120 reasons..” Somewhat banal, when you think about it, because it’s like you’re saying “Why am I so right? Here’s 1 million reasons…” I actually adopted it for a few blog-posts, then I dropped it. Fred Wilson writes essays, shorter than Paul Graham’s (thank god), but still I like the flow of the text. And for a while, I’m sure, I tried to sound like Fred Wilson. And Penelope Trunk just has a very personable style, for lack of a better word.

That’s not to say that I will now try to write like Ms. Trunk, or that I even do it intentionally. Back when I was a kid and tried to write fiction, I always remember that it read like Stephen King, J.R.R. Tolkien, or Isaac Asimov, depending on who I was reading at the time. It wasn’t on purpose, it was more like my brain adopted the writing style more easily than say, if I spent time with an accountant and tried to replicate what he/she did.

I think each of us have brain-patterns that fit a certain craft best and for me it happens to be writing. Which is interesting, because I also read and talk to a lot of entrepreneurs, yet I am not one right now and wondering if I ever will be. Food for thought.

Have you experienced the same thing in your craft? How do you take in information from your heroes, though conversations, reading, observation, interaction, or other means? How effective has it been for you? And is it something that stays with you always or just in the beginning of your life? And, the most important question of them all… Who are Your Heroes?

Vincent

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Hey guys,

I wanted to pose this question on Twitter, but couldn’t describe it in 140 characters. Basically, if I want to learn about investing, what would be the best way to go about it?

I noticed, reading Business Accounting for Dummies, that accounting is a topic that is very nationally driven. Sure, there are general standards, but there will be subtle legal differences for each country and in the end you have to learn something twice or thrice (depending on how often you move).

Is it the same for investing? Am I better off talking to my local bank and seeing what my options are there? I have to say, I prefer being already informed before letting myself be sold service X or Y, so what is a good way to find out about investing via books or otherwise?

I’m not a Dummies-freak or anything, but I did like Consulting for Dummies a lot (review here) and some chapters in the (British) Business Accounting for Dummies book. Would you endorse reading the Investing for Dummies book or another one (bear in mind, that I am a “dummy” as far as investing is concerned!)?

In any case, those were my questions, which wouldn’t have fit the 140 character format. Any advice you can give is welcome!

Vincent

P.S. we are now on a new server, which shouldn’t affect your experience one bit. We may post more polls though :p

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Discipline is the mother of all innovation…!

I’ve decided to dedicate one hour per day to learning Java. If I remember correctly, Jeremy did something similar, but I’m not sure it was for this language. Reasons for doing this are:

• A good intro-language for code-dummies like me!
• Built to be cross-platform: not only PC-wise, but on mobiles as well (I plan to write about the latter in a future post).
• Plenty of resources around (more in this in a sec)!
• The intellectual challenge!
• Necessity: remember my last mantra?

After looking around for resources, of which there is no shortage, I’ve decided on a three-pronged approach:

• A lecture-series, by Swinburne University of Technology, entitled “Object Orientated Programming” (free on iTunes U)
• A book, called “Head First Java, 2nd Edition,” which got good reviews on Amazon, and is co-authored by Kathy Sierra. The lecture above recommends, “Core Java, Volume 1,” which I have to see whether that would make sense to get, in order to follow what they are saying.
• Exercise-tutorials, to learn the basics, of which there is no shortage online. I am currently a third of the way with the tutorials on Javaomatic, and will see what happens afterwards.

Since I don’t like working solo on things, I think a logical next step is to take part in projects where I can practice my l33t haXing skillZ as well as contribute on the business developmental side.

My questions to the audience are:

1. Where do you stand on Java as a language and as a standard? Personally, I have yet to come across a Java-app that I actually use day-to-day.
2. What is the one Java app that I should check out to inspire me!?
3. How easy is it to build on top of Java and learn/use other languages? What web-languages are most related to Java (yes, I am aware that Java could be a considered a web-language also)?

Enjoy the weekend!
Vincent

P.S. don’t forget to answer our poll !!!

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