Friday, 25 May 2018
3 questions to kickstart your entrepreneurial empire | Miki Agrawal
Why do you put up with things that an entrepreneur wouldn’t? For Miki Agrawal, her entrepreneurial empire started with one question: "What sucks in my world?" Since then, Agrawal has made a habit of disrupting industries—especially in the taboo space. Her farm-to-table gluten-free pizza concept Wild is in its 13th year, her period-proof underwear Thinx shook up the $15 billion feminine-hygiene market (and famously rocked the advertising world), and her latest company Tushy is bringing bidets back. Here, Agrawal explains the three-question test that helps her decide what ideas she wants to pursue, and she makes a case for social entrepreneurship over a pure profit model: she knows from experience that your motivations really matter when times get tough. Miki Agrawal's latest venture is revolutionizing the American toilet with Tushy, at http://hellotushy.com. Read more at BigThink.com: https://ift.tt/2J6ZG0Q Follow Big Think here: YouTube: http://goo.gl/CPTsV5 Facebook: https://ift.tt/1qJMX5g Twitter: https://twitter.com/bigthink Miki Agrawal: So, when I think about what ideas that I want to pursue, I think about three questions. The first question that I ask myself is, “What sucks in my world?" Does this thing suck in my world so much that I want to do something about it? Like, for example, having period accidents every month. Having to literally like—when I was going to the bathroom, prior to bringing Tushy into the world, I would have to go to the bathroom, take—the average American uses 57 sheets of toilet paper per day; I was that person using probably more—I would take two wads of toilet paper, put them under the sink, so I would have two wet wads of toilet paper—because I wouldn't buy wet wipes, because they're are bad for the plumbing system and bad for the environment—so I’d get two wads of wet paper, then I would go to the bathroom and then I would take the first wet wad and I would like wipe. And then I would take dry paper and I would wipe. Then I’d take the second wet wad and I would wipe. Then I would get more dry paper and wipe, and I would do this whole thing to just make sure I’m clean down there. So what sucked in my world? Going through that process. What sucked in my world? Having stomach aches every time I ate pizza—regular, conventional pizza. You know, bleached flour, processed cheese, sugar-filled sauces, processed toppings. That was hurting me, but I loved pizza and I wanted to keep it in my life, but I couldn’t eat that kind of pizza. And so that sucked in my world. The second question is, “Does it suck for a lot of people?” Because if it sucks for just you and you’re like a diva, then sorry, but that’s probably not a great business idea. But if it sucks for a lot of people, then: business opportunity. One in five Americans eat gluten-free whether they’re gluten intolerant or not. Gluten does require a lot of energy for your body to break down. It’s not really great for your body to digest. And so to be able to eat gluten-free actually does keep you lighter. And so 20 percent of Americans eat gluten-free. That’s a pretty big market. Okay, we can start this business in this category. In the bidet world or in the bathroom world wiping your butt with dry paper kind of sucks for a lot of people, specifically the 30 million combined cases of chronic UTIs, hemorrhoids, yeast infections, those who suffer from those, and just everyone that has to sit on fecal matter all day long, which is pretty much everyone. And so it sucks for everyone. And the final question, which is the most important one, is: “Can I be passionate about this issue, cause or community for a really long time?” It takes ten years to be an overnight success. We often think like, “Oh my god, Dollar Shave Club sold in two years for a billion dollars. Oh, look at Instagram. It had ten people and sold for a billion dollars. I can do this.” Those are literally like winning the lottery. You have to feel like you can sit in that discomfort for ten years. Can you sit in that, “Oh god, am I going to succeed or not? Am I going to like, just hand to mouth, figuring it out how to live during that period?” Can you do it for ten years? Can you be passionate about that issue for ten years?
Labels:
Big Think
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment