Steps To Success For Small Web Startups
When Jimmy Wales was struck by the idea of a Web-based encyclopedia built by volunteers, he thought he had stumbled on something that could change the world.
He called his invention Nupedia. Articles would be provided free by specialists. And content would go through a seven-step editorial process to ensure the highest quality.
It was, in Mr Wales’ words, ‘a complete and total failure’.
Since those days, Nupedia has evolved into Wikipedia, a name familiar to most of us. Unlike Nupedia, Wikipedia’s articles are written and edited by volunteers.
The website is one of the 10 most popular on the Internet, with visitor traffic that surpasses that of the New York Times website.
At a session organised by NUS Enterprise and the Global Brand Forum, Mr Wales spoke to 200 young entrepreneurs, professionals and students on how to succeed as an Internet start-up.
Recognise a good idea
The first step is to identify your product’s potential. ‘The way I define a good idea (for an Internet startup) is if I would want to use the website myself,’ said Mr Wales. ‘That’s the real litmus test for me.’But at the same time, it is necessary to accept failure. ‘You can’t beat your head against the wall forever,’ said Mr Wales, who revamped his idea using the Wiki model of Web pages after realising that Nupedia would not take off. ‘I’ve had tonnes of ideas that I started and abandoned because they didn’t work.’
Take a step back
‘When I started Nupedia I was in an absolute panic for two weeks,’ said Mr Wales. ‘I thought it was such an obvious idea that we would have massive competition instantly.’Now he realises that time spent panicking over imitators or competitors is usually time wasted.
‘You might think someone’s going to take your idea really quickly,’ he said. ‘But chances are they aren’t. Don’t worry – just start working.’
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