Hey, Dear Innovator 🫶
Have you seen this heart-warming quote before:
“In life, change is the only thing that’s constant; In an Innovator’s life, uncertainty is the only thing that’s certain.”
- Source: Mark Zuckerberg (the one from Apata o)
Honestly though, years ago, if someone had told the real Mark-man that someday, his company would stand on trial for allegedly buying out the competition, he’d have probably laughed them out of the room (read about the FTC trial here)
But then again, that’s just what to be expected from this innovator-tech leader-builder thingy that you signed up for (your mum warned you! 👀).
As an Innovator, there’s no way of completely knowing what the next day will bring, if a new global/regional law will negatively impact your solution, or even when a new trend will suddenly make your users love you a little 🤏 bit less. Nothing is certain!
So… How do you navigate this madness? Follow the hand👇
The life of an Innovator, especially in Africa, is a complete 180° from what most people may had wished for when they had decided to dedicate themselves to creating solutions to solve society’s problems.
This is not to say that it’s all bad. Now, although the highs and wins are exhilarating and just breath-taking, it’s nothing compared to the bottomless low periods and endless uncertainties which one will have to sit with.
If the goal is to thrive, rather than just surviving, then you always have to be 5 steps ahead and on top of things at all times. Here are a list things that you can do to navigate Innovation’s uncertain waters…
1. Build a “What If” File
Start asking scary questions before they become reality. Questions like:
What if our funding dries up?
What if my core product becomes obsolete?
What if any new regulation shuts down part of our operations? , and lots more
While these questions may seem silly and unnecessary at first, as an Innovator, there’s no such thing as being too prepared.
2. Don’t Build Alone (Seriously) 😑
Innovation is a team sport, and one of the worst things that you can do in uncertain times is isolate yourself.
A network of other founders, product builders, and community leaders. will always be helpful as you try to find your footing in whatever sector you’re building in. So, if you need a good tech community to belong to, the Community Community of Innovators is a pretty good starting point.
Click here link to apply and if you fit the criteria, you’ll get a call back! 🤝
3. Diversify Your Revenue Streams:
Even if you have just one product, diversifying your revenue cushions you against unexpected disruptions like new laws or shifting user tastes.
Also, your burn rate can make or break you. Even if you're gunning for growth, you need a solid plan for staying lean (expense-wise), prioritising your highest ROI channels, and knowing your break-even point like the back of your hand.
Just get real about your finances, cut out the unnecessary costs, delay big spends, and extend your runway for as long as you can.
As an Innovator, since nobody can accurately predict the future, the next best thing is to make sure that nothing catches you unprepared and unaware 🚀😉
Enjoy the rest of your weekend!