Take home lesson for Entrepreneurs- Sarahah(.com)
“Sarahah” has been Viral. The app has been a trend in few days. You would have surely come across this app named Sarahah.com in some way or the other unless you are living in a nutshell!!!
“Take up one idea. Make that one idea your life — think of it, dream of it, live on that idea. Let the brain, muscles, nerves, every part of your body be full of that idea, and just leave every other idea alone. This is the way to success.” – Swami Vivekananda
Sarahah was created to take positive feedback anonymously. The sharing of ‘feedbacks’ on social media & the user engagement clearly shows the Virality of this app. In a way it brought out multiple sides of human sentiments.
From “constructive feedback” to “being a victim of cyber bullying” you would have seen it all in past couple of hours.“It’s not about ideas. It’s about making ideas happen.” Sarahah has been able to engage users universally, but there are certain take home lessons for startups that they should take care of while building a product or service. Building a startup is a very tough and long term process. You have to think for long term Sustainability and Scalability.
“Entrepreneurship is neither a science nor an art. It is a practice.” – Peter Drucker.
What we can learn from success of Sarahah.com “Do’s”
1) WOW Marketing (Word-OF-Mouth)The purpose of a business is to create a customer who creates “customers”.”WOW Marketing” is when a consumer’s interest for a company’s product or service is reflected in their daily dialogues. Best of the companies in the world have used this strategy and this is the best marketing strategy a product can get. So you need to create “a product so good“ that after using it, people would share it in their social circles.
If you see it in the case of Sarahah- The trend was set by some early users who wanted to take feedback about themselves by sharing good or interesting feedbacks on Facebook. This encouraged other users to try this app!!!
2. User-friendliness of the product/service
One thing that should always be considered is the userfriendliness of the product. The product should be so simple and instinctive that it can be used with an equal proficiency by a child or an adult wheather or not the individual is a “Tech-Savvy”
It’s easy to make things look hard but hard to make things look easy.
Most of the startups want to build a product with multiple features to enable more users to use it. But a product loaded with multiple features would confuse the user.
Sarahah is extremely simple to use. A feedback seeker has to simply create an account and share the URL – that’s it. A feedback giver has to merely write the feedback in plain simple text.
3. Emotions make us human
“The greatest fear in the world is of the opinions of others. And the moment you are unafraid of the crowd you are no longer a sheep, you become a lion. A great roar arises in your heart, the roar of freedom.” ― Osho
Sarahah became viral because people want to take & hear positive feedback / positive things / good things about themselves as it would make them feel “valuable”. A user should be able to connect with the product/service at an emotional level. In that case he/she will surely use it – atleast for once.
What NOT TO DO while building a Startup.
1). Build Real Value for the Customer
While building a startup take care that you are solving a real problem and delivering real value to the customer.
“Don’t find customers for your products, find products for your customers”
In order to build repeatitive engagement, target a group and solve some real problem that your target group is facing. Websites like Sarahah are build to capitalize Human Emotions. They will be able to attract a lot of people to use them but for a small period of time. But as an entrepreneur, you should think whether you want mere Users or Customer?
“Be genuine. Be remarkable. Be worth connecting with”.
2. Trends Come & Go, Startups Stay
When you are building a company think about the “long term goals”. User Retention, Active Users and Repeat Rate are very important factors for a startup. Make sure that your product/service is able to engage users for a longer period of time and there is a repeat rate, else your product might go viral, but will be useless in the long term. Just like Sarahah, 100s of things go ‘viral’ and become popular very quickly, but then they sputter out with the same speed.
“Strive not to be a success but rather to be of value”- Albert Einstein
3. Money is the Oxygen for your company
A business is nothing without its clients. Whether you provide product or services, you won’t survive unless individuals or other businesses retain their interest and are willing to pay to use the product / service continuously.
Monetization happens when you are able to deliver real value to the customers because the customers will never hesitate in paying for the value he/she is receiving.
“Making money isn’t hard in itself …. What’s hard is to earn it doing something worth devoting one’s life to”- Carlos Ruiz
In the haste of building a company, early stage entrepreneurs do one common mistake! They do not think about building a rock solid revenue model. Even though apps like Sarahah go viral but they don’t have a monetization model built in them which is ok for a short period of time but it’s deadly in long term.
“The Entrepreneur always searches for change, responds to it and exploits it as an opportunity”- Peter Drucker
The effort required to launch a new venture can seem daunting. Do your research, pick everyone’s brain, find a mentor that’s experienced in entrepreneurship, review business case studies and focus on delivering real value to the customers.
At Tech Corp International Strategist (TCIS), we help Startups to Raise Funds & Assist Foreign Companies to find Right Business Partner in India. We assist enterprises to enter INDIA and find RIGHT Angels, and Venture Capitals in Malaysia, Singapore, US, UK, Japan and India. We believe that for protecting your innovation in India, your startup idea and our intellect is the perfect combination.
Every business has a #strategy. We at TCIS facilitate the process of identifying Key issues and help amplify business goals of any business (short term goals and long term goals). Everything is simple we tend to complicate and use heavy words to prove our point.
Associate at TCIS