Sometimes entrepreneurs fall in love with their idea even if it’s a really bad idea. This is typical of any being that bears an offspring. Even humans fall in love with their new babies although everyone knows that newborns are ugly. So when starting a business here are a few heads-up.
In entrepreneurship you cannot afford to fall into blind love, it’s very costly and it can wreck your life. As an entrepreneur, you are exhorted to be very objective with your business, your plan, and your product. Have everything on the table for debate if ever you want to succeed in business.
For starters, any entrepreneur should have a mentor from whom you can seek out help and advice from time to time. Mentors are usually people who have been there/done that, and they have experiences (including failures) you can learn from. Always listen closely to their advice.
The second mouse got the cheese
When you have a partner or co-founder, that is another voice of reason, listen also to what they have to say or what their views are. Be open-minded to receive both supporting and contrary views to yours. From those views, you take action after carefully calculating the risk. Yes, they say entrepreneurs take risks, and that’s true, but they succeed because they take calculated risks.
Most importantly listen to your customers. Customers are the electorate, they either put you in the office or take you out. Customers vote with their money and the lack thereof means you are going to close shop. So always develop your product or service with customer needs or problems in mind. That’s your formula for success!
Your most unhappy customers are your greatest source of learning.
When you catch yourself falling in love with your idea, ask yourself “Am I solving people’s problems”. It won’t matter what you create to solve their problems, but as long as you do it in a simple, easy and ideally affordable way, you will be fine. Customers won’t mind paying you if you are solving their problems or meeting their needs. Be customer-centric!
” Every mistakes and practice you make will define your success.
Everybody see your success, but they don’t know what it takes for you to reach it. You only answer to yourself, make mistakes now so you don’t make them in the most crucial part of your life. ”
At times you have to embrace making drastic changes to your original idea, you can’t persevere a plane till it crashes. It is usually a trap: that any person would want to keep holding on to the first idea that got them all excited and pumped up without regard to what the customers are saying. On the contrary, it might be that idea that gets your customers excited is not even that exciting, hey that’s what you gotta go for to succeed. The customer is right because she will vote with her money. So just breath deep and go for it!
The more you engage with customers the clearer things become and the easier it is to determine what you should be doing.
– John Russell, President, Harley Davidson
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