In the world of business, only myths, facts, and interpretations exist. Not until recently, the long-believed myth – that many businesses fail in their early years – was busted by the Entrepreneur. The report revealed that the rate of startup failure had decreased by 30% since 1977.
Since the decline in the business failure rate is quite obvious, the millennials with urbane mindset are approaching the DIY methods of earning their bread and butter. As opposed to the previous generations depending on jobs for survival, the millennials are dipping their toes into the waters of entrepreneurship. And by entrepreneurship, they mean to embrace the DIY culture.
However, the DIY culture isn’t anything new. It has resonated with millions around the world. It is mainly based on the idea of building experience from your home ground. You get to connect with people, not in a rigid mode of communication but in a healthy way. DIY is the most productive way for entrepreneurs to intertwine their business ideas with their dreams and unleash a whole new level of creativeness unique to itself.
Need an example? Look around you. All the social media is filled with DIY videos. It’s all about pushing the limits and looking forth to the extent where the boundaries can be pushed. Save costs and still get the job done. Though looked down upon by many and not considered reliable, DIY is surging to the top, drawing the attention of the startups all across the globe.
So, just as the DIY culture holds potential for the new markets, is the startup culture ready to embrace the DIY tsunami? Is the technical world ready to tap into a dynamic dimension of unprecedented resourcing? It’s up to you to decide.
What Drives A Startup Culture?
Authenticity. Agility. Passion. Personality.
The above-listed traits define a startup more than anything else. The power to push beyond the limits is what leverages a startup to propel towards creating a differentiating impact in their niche market. For a startup of any kind, the initial steps are small and quick, which lead them to bringing their abilities into play.
When we’re discussing DIYing in relation to the startup culture, both intersect at some of the common touch points that define the overall objective and motive of the business – with a pinch of flexibility. The key lies in propagating a vibrant work culture where communication is transparent and fluid.
Ask anyone who has experienced a startup based on DIYs of its kind. They’ll tell you about the freedom they experience, which is in fact, the spark that ignites the DIY spirit in a culture. It not only appeals to the cohorts of various generations but also sharpens their imaginative quality to pursue their desires.
Let’s consider an example here; Other Machine Co. is a small-sized company that specializes in creating Othermill Pro, a high-precision CNG machine optimized for milling circuit boards at affordable rates. Recently, it was acquired by Bre Pattis, who believes that:
“Supporting creative explorers and empowering human potential is the most worthwhile endeavor. Dr. Danielle Applestone and her team are a great group of dedicated and passionate people committed to precision. I’m excited to work with the team at Other Machine Co. to explore the frontier of accessible precision machining.”
DIY Ideas + Startups = Innovative Entrepreneurship
When you’ve got a passion, the will to do it on your own brings out the side you think never existed. Millennials are termed as the DIY generation due to their association with the DIY practices, which makes them the perfect fit for innovative entrepreneurship. It has now become the modus operandi of most of the millennials venturing in the field.
With that being said, the cultural shift has propelled the young generation to enter the expanding DIY culture. How the modern startups embrace the DIY culture depends on the creative mindset one needs to employ. Let’s start boiling down the points and discuss a few examples of how startups of today can bring up the DIY culture into the limelight.
1. Being Your Own Boss Means Freedom Of Expression
Initiating a startup is something which is easier said than done. Most people venturing into the field have no idea of what challenges they could confront. And since the DIY culture demands you to be your own boss, you have to take responsibility and just go for it.
Adam Ali wanted to own a DIY tech startup in Huddersfield because he wanted to work for himself. He pitched his business idea at the Peter Jones Foundation, which won him the National Entrepreneur of the Year (£5000 and a scholarship to study enterprise at university).
The moral learned from Adam’s story is that if you’ve got the idea, you need to voice it out. As Adam pins it:"If you have an idea, a passion, the best thing to do is go for it! If you need to learn something, then go and learn it – and surround yourself with positive people."
DIY businesses need to find their grit in order to predict their success. This property is crucial for people transitioning from a salary-based job to pursuing an entrepreneurial career. You can receive rejection at times, but it shouldn’t hold you back from achieving your goal. Removing the fear of rejection can leverage benefits that every entrepreneur needs to bolster himself with.
2. Be Open To New Ideas and Innovation
Novel ideas and innovation are the key features of a DIY startup. For a business to flourish and grow, it must be able to make innovation its routine and keep introducing the idea of novelty to their current business.
The biggest obstacle in implementing new ideas into your business is the thought process being stuck. It’s just as simple as this: old doors won’t lead to new ways. Refusing to make changes renders your success stagnant, and ultimately missing the opportunity to grow and thrive.
To save your startup’s growth, you need to add flexibility. A change is a change, no matter how small or big. It could do wonders for your business’s prospect. A way to enter the mainstream DIY culture is to listen to new ideas and advice from anyone.
It’s possible that your startup might be thrown under the bus for not meeting the usual rigid corporate framework, but what if any out-of-the-box idea works for you, if not for them? When a startup is flexible, it attracts innovation and strives to bring the teams closer to their ideas of interest and passion.
3. Define Their True Identity
When you’re DIYing, you’re associating a whole new idea with the personality of your business. However, most people believe that DIYing instead of contacting professional services is a means to save money. For some reasons, it must be true, but most of it is nothing but pure misconception.
The DIY culture is much more than just saving some bucks; it’s about differentiating yourself from others. For instance, if you’re using a DIY logo generator for your startup or want to start a unique campaign or even a DIY-based contest for product marketing, it enhances your customer-focused strategies, makes your approach market compatible, and lets you enjoy what you love to do.
You see, when you explore your passion, you deviate from the norms of marketing and give your customers the upper-hand to define your brand in a new light.
4. Become Closer To Your Audience
The dilemma most entrepreneurs face when communicating with their audience is the delivery of information. They fear that if they’d deliver too much information, they might lose the value of their startup. If the customer receives more than intended information, what’s the point in having them choose your product?
Stats have it that videos are the key features for DIYers. 65% of this population will buy from brands that deliver consistent DIY videos. If your brand provides a video for DIY projects related to your startup, you’re more likely to gain recognition among the ardent supporters of the DIY culture.
Take Tech Insider, for instance. If you want to build your own mini motorboat, they can show you how to build one with a $950 kit. Just like that, they keep their social media followers posted on what DIY project they’re going to embark on next.
With DIY projects like these, many may want to use the information and purchase the recommended tool to make their own project. Like that, you can deliver the customers the information they need rather than fearing what information to share or what not to share.
When you share the wealth of DIY knowledge with your customers, you get to captivate new prospects as well keep the loyal ones intact. Your customers want value and transparency, which can be the best way to connect with your audience via DIY videos and projects.
5. Boosting Engagement With Participation And Cooperation
A startup can’t progress if it only relies on engaging its customers. The DIY culture isn’t just about showing your customers the DIY side of your startup; it’s also about asking for their attention in terms of interaction and participation. So, when it comes to pushing the boundaries of the comfort zone, startups need to brace themselves and connect with the DIY demographics.
Since its’ all about DIY, you can introduce competitions that are based on how-tos. It could go something like this: You can give a range of products and ask your audience to share their ideas about how to use these in practical DIY projects. The best idea wins the prize offered.
In the same manner, when you’re offering a DIY contest, you’re making the interaction easier for yourself and your customers. At this point, you can achieve high-quality user generated content, which helps you narrow down your approach to target the desired audience.
Wrapping It Up
Startups and the DIY culture definitely have one thing in common: Both are expanding with the speed of light, affecting greatly the digital marketers. Despite saving the money and doing what you love without expending a lot is what most people are about these days. Startups need to realize what their customers want and how their interests could shape the prospects. And when it’s done right, the startup is bound to receive the boost it’s been expecting from the DIY culture.
