As you may know, our summer interns are contributing to Daily Fuel’s editorial. Today's guest blogger Parth, a student at Michigan's Ross School of Business, writes about proof of concept.

Prove Your Idea

Growing up, patience always meant finding ways to pass time until you got what you wanted. Your friend isn’t coming over for another hour; play Fortnite. The football game doesn’t start until 1 pm; wake up at 12:50. As long as I had something to distract me from the atrociously boring concept of patience, I could always manage. But now, as I plan to start a business, patience implies something entirely different and it’s not as easy to manage. Patience in starting a business is not about idly waiting for instances to occur. It’s about going through the long grind to arrive at the destination you set out to reach.

For example, I am currently creating a fantasy football game designed to keep fans engaged with televised football games during commercial breaks. My co-founder and I have spent the last 11 months determining the breadth of our problem statement, establishing a vision, designing the gameplay, researching the industry, developing a competitive strategy, and building a foundational network of industry leaders. We finally began developing a minimum viable product (the “prove it” prototype) two weeks ago. Not only did it take us 11 months to get to building the product, the prototype we are building is nothing compared to what we envision. Although our focus groups love the product, it will take years before we build something I can truly be proud of.

But that’s the way life goes sometimes. Dave Zilko, CEO of Fuel, worked 11 years before he took his then girlfriend to Paris to propose to her. And I have to work some years before I have a business I can be proud of. Grace Hsia would probably agree that patience is not a virtue, but how you manage patience is. And in the business world, managing it starts with proving it.

Parth

Guest Blogger:

Parth

Student. Entrepreneur. Patient Prover.

before you get back to work...

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If you are not embarrassed by the first version of your product, you've launched too late.
— Reid Hoffman
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