The digital landscape is fertile ground for innovation and entrepreneurship. At Deep Impact AG, we know first-hand how to develop digital ventures from idea to successful scaling. Our experience has taught us that the path to success follows certain principles. Here are the three golden rules that every aspiring digital entrepreneur should heed.
1. fail fast at low cost
The traditional route of market analyses and surveys has had its day. In the world of digital ventures, direct interaction with the market is what counts. Instead of relying on hypothetical approval, we recommend launching as quickly as possible with a minimum viable product (MVP). Real customer feedback and the analysis of user behaviour are essential for the iterative improvement of the product. This approach makes it possible to recognise failures early on and use resources efficiently.
2. collaboration with top talent
Building a new venture requires a competent, interdisciplinary team that is fully dedicated to the project. An optimal team consists of no more than five people who are able to concentrate fully on the venture. The success stories that start in garages or hobby rooms are the exception rather than the rule. Professionalism and dedication are key to success.
3. take the venture seriously
An anecdote illustrates this point: a furniture retailer was toying with the idea of selling his products online – an innovative idea at the time. But without the necessary willingness to invest, success failed to materialise. Just like opening a new branch or launching a new line of business, the digital venture must be pursued with seriousness and perseverance. If the furniture retailer had adhered to our principles, digital commerce might now be an integral part of its business model.
No guarantee of success, but a signpost
Not every venture is a success. For example, we had to give up our Kiwazo platform. However, the experience we have gained with our successful ventures such as Frutico, Meatico, Spectra, Winsider, AVA-X and eSports Technology enriches our project business considerably. They enable us to support companies in their digital transformation with in-depth knowledge and practical experience.
Cross-fertilisation of customer projects and ventures
Our customer projects also benefit from our experience with our own ventures by helping us to stay close to reality and constantly arouse our curiosity for new digital business models.
Digital transformation is a continuous process that requires creativity, courage and a willingness to learn. If you want to learn more about the digital world, subscribe to our newsletter and stay up to date with the latest developments and insights from the field.
