Becoming an entrepreneur is not an event, it is a process. It demands an open mind and readiness to learn and change. We talked to Bill Xiques, our partner and the inventor of Goliath, a high-rise sports chair, about the evolution of an entrepreneur and what inventing a product can teach you about yourself.
The Evolution of an Entrepreneur
Bill came up with Goliath, the high-rise sports chair idea, as he has spent much of his adult life at various sporting events for children and young athletes. Visibility challenges at bowling matches and tournaments for his two sons sparked the innovation of this chair. He had to find a solution, so he didn’t have to stand and suffer. Goliath is a three-position sports chair that starts low and rises up to 52 inches. You can check it at our launchpad. The idea is one thing and the process of getting your product or app to market is long and hard. It builds character and helps you change internally as much as you are changing externally to launch the business.
We asked Bill how this process changed him.
Lesson # 1 – Be Patient
The most important thing I’ve learned is to be patient with the process. Patience is not something that comes naturally to me. We have all suffered because of it. I wanted to see things happen as I had spent 2 years previous to joining IdeaPros working on my idea. I did a lot of work and research. I spent countless hours trying to understand how my product would fit in the market. I thought I knew everything, but I didn’t understand the process. I can say that my impatience inspired Fred to come up with many Friday live topics. As he understood that it is not only my problem, many entrepreneurs want things to happen fast, and without thinking about the consequences.
“The most important thing I’ve learned is to be patient with the process.” – Bill Xiques
Lesson #2 – Be Part of the Process
Before I joined IdeaPros, I tried with two other companies, but I left them because they weren’t teaching me the process. This changed when I came to IdeaPros. Now I know how important it is to be part of the process.
Sometimes, entrepreneurs don’t participate because they are intimidated by the things they don’t understand. My message to them is, ”Ask questions, don’t be afraid to say no. Don’t sit back and let others do all the work. If you are not happy with something talk about it. At the end of the day, it’s your project”.
Lesson #3 – Pick the Perfect Name
When I joined IdeaPros, I already had a name for my product. Well, at least I thought I had a name: High-Rise Sports Chair. Fred explained to me the importance of a perfect name and how successful companies, like Nike and Adidas use names that are evocative and paint a mental image. They don’t describe what the company or a product does, but we all know that. This is how we came up with Goliath – Rise Above the Crowd.
Lesson #4 – Talk to Other Entrepreneurs
Due to my impatience, I reached out to another IdeaPros’ partner, Shawn Reed, about two months into the process. I wanted to hear about other people’s experiences. I explained who I was and what product I had. I was convinced that I was ready to go to market. Shawn told me to listen, trust the process, and slow down. This really helped me out.
Lesson #5 – Rethink How You Approach Things
Eight months into the process, I got my prototype. I was waiting for that moment for a long time, but when I took it out of the box everything fell apart. I realized it was time to rethink how I handled things previously. I understood that this is what happens when you rush. Around that time, I also tried to rush the product for an event I considered important. Our big market was going to be bowling. That is the whole reason I came up with this chair, so I can see my boy’s bowl. There was this big event coming up, Junior Gold Bowling, with 10,000 people attending. I wanted to get the chair out and promote it to my people. When I saw the prototype, I felt maybe I did rush it. We got something a bit fancier and less user-friendly than we really needed. So I knew then it was time to slow down, take a step back, and then move forward.
“Bill represents the journey we all have as entrepreneurs. A journey that is about changing our life, enabling ourselves, and showing our friends and family that anybody can do anything. Being able to see over the crowd whether you are in a chair or not.” – Fred Cary
The “Idea Pros” at IdeaPros have the resources, experience, and tools to help you at this step or any step in the entrepreneurial journey.
We partner with entrepreneurs at any stage and who are ready to invest their ideas. Apply for an interview and let’s explore partnering together.