Interested in starting your own entrepreneurial journey in business development but unsure what to expect? Then read up on our interview with Lindsay Tabas, Founder of Labs*:The Pre-seed Startup Blueprint, located in Philadelphia, PA, USA.
What's your business, and who are your customers?
Labs* is the comprehensive blueprint that moves a startup founder from vision to product in the leanest and most efficient process with proven long-term results. The majority of my customers are nontechnical startup founders building a company where the primary product is a piece of technology.
With the average software project going 3x over scope, I designed Labs* to help founders bring in revenue before hiring developers while aligning them strategically with product-market fit indicators fit for their stage of business. One of my founders was able to test hypotheses core to her business model using Squarespace & Eventbrite, learning a ton about the functionality her future product needed to support while also making money. I love those outcomes the most!
Tell us about yourself
I am a Product-Market Fit Strategist & Startup Advisor focused on helping founders and innovators design and sell the right product before spending too much money building the wrong one. After 10 years designing and developing software in Silicon Valley, New York, and now remotely from my home base in Philly, wearing every hat between what customers say and what engineers need to build, I started on my own as an independent contractor in 2014 and then launched Labs* in 2017. Throughout my career, working with hundreds of startups, investors, and Fortune 500 firms, I have seen eager creators spend (and lose) ludacris amounts of money building products without having the customer involvement to make what they’re doing an actual business. Many people act as if technology is the solution; when they do, it’s bound to become the problem. Crazy, right?
Since the beginning of my career, I’ve been obsessed with designing technology FOR PEOPLE. What motivates me? Enabling everyone to make better technology decisions so we can collectively design the human experience for the future.
What's your biggest accomplishment as a business owner?
Being self-employed for 9 years and counting is, by far, my biggest accomplishment and the one I’m most proud of. When I started on my own, I was living in New York. Someone told me that the actors on Broadway weren’t necessarily the most talented in the world but the ones who had the resilience and perseverance to face challenges and setbacks without giving up.
While I have many notches in my belt - the original five founders that took Labs* in 2017 are all still in business! - I cherish the strength and resilience I’ve built to stick with what I’ve always known is right for me: Having the freedom and flexibility that come with entrepreneurship and self-employment.
What's one of the hardest things that comes with being a business owner?
On the topic of resilience and perseverance, I’ll say that most early business owners cannot handle not knowing where their next paycheck is coming from. Economic insecurity of any size is scary; that’s why I emphasize that entrepreneurship is the quickest path to self-discovery. You have to be willing to do whatever it takes to bring your vision to life, even if that means being continuously uncomfortable and uncertain. Both of my parents are self-employed, and my Dad always had a saying, “You have to be willing to paint walls.” Quite literally, he recalled that he took a job painting walls to make money during a downturn.
What are the top tips you'd give to anyone looking to start, run and grow a business today?
- “In Order to be Outstanding, You Have to be Willing to Stand Out.”
On a call with a well-known VC speaking to a group of women consultants, the VC described an ideal product that sounded exactly like Labs*. I raised my hand, introduced myself, and secured a meeting with him to talk more about what my company offers. You have to be willing to put yourself out there and don’t let your insecurities hold you back from sharing your ideas with others. Sometimes you’ll fear getting negative feedback, but all feedback is helpful as you grow. - “The Worst Trait of an Innovator and Leader is to be Stubborn.”
To be an entrepreneur, one must have a great level of confidence and belief in themselves, their knowledge, and capabilities. But every strength has a weakness: That confidence can become a big ego and keep you from building something other people will spend money on. Don’t have “happy ears” only listening and tuning in to the positive feedback you get! As well, when you get critical or negative feedback, don’t shove it off as if you know better, particularly when talking to people that could or should be your customers. When I first launched Labs* plenty of people told me that tech startup founders don’t have any money to spend. Knowing that there were founders with money to spend on the right product, I had the confidence to continue! Yet, I wasn’t blind to the need to leverage my branding and to target to focus on a smaller niche of my audience. - “Leaders are Learners”
Anytime I interview a new contractor to work with me, I ask, “What is the last thing you taught yourself for personal or professional reasons?” This question helps me understand how committed the person is to learning new things and how they can take the initiative to do so. Throughout your entrepreneurial journey, you will face new challenges that require you to go figure it out for yourself. Maybe a customer asks you to have business insurance, or you have to fire your first client; whatever it is, there’s no possible way you’ll know how to handle every situation that comes your way. Stay committed to continuous learning and improvement, and you’ll always find your way.
Where can people find you and your business?
Website: https://www.lindsayt.com/
Instagram: https://www.instagram.com/lindsaytladyengineer/
LinkedIn: https://www.linkedin.com/in/lindsaytabas/
If you like what you've read here and have your own story as a solo or small business entrepreneur that you'd like to share, then please answer these interview questions. We'd love to feature your journey on these pages.
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