Why New Business Ideas Are So Dangerous (Careful!) @TenTonOnline

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Transcription:

never done before business ideas

What you don't need when starting your small business is some huge, inspiring, complex, or break-through idea. I call these "magical big ideas"...because they're exciting, motivating, inspirational...and take on a sort of magical quality about them.

To us, the product, service, and business ideas we dream up are rare, special, valuable, and we have to protect them...because we're afraid someone will come along and steal them, right?

But there are two big problems with all this -- and don't feel bad...nearly ALL new business owners...like 99% of us (myself included!) make the mistake of putting so much value and emphasis on an idea first that we completely lose the plot.

Here are the two big problems with putting a "magical big idea" first:

1) First, you begin falling in love with your idea. You think it's perfect...that everyone will want it...that it's scarce and rare and valuable. The problem here is that we fall in love with the wrong thing.

We should fall in love with our customers, our market, our audience, and with trying to solve their biggest problems and challenges. So the first problem with putting your idea first is that it has us focusing on the wrong thing...it makes us fall in love with the wrong thing.

But what about the second big, hairy problem? Let's discuss...

2) The second problem with putting so much emphasis on your "magical big idea" is that it puts your business, product, or service idea first...and meanwhile the needs, challenges, and pains of your customers takes a back seat. And you know what? This is the exact opposite of what we need to do.

We need to turn this around. As small business owners, we're builders, innovators, and developers and creators, right? But we need to temporarily put these aside and instead dig, investigate, research, and learn about our audience. What do they struggle with? What big, complex problems do they wrestle with?

Once we understand our audience more deeply, THEN we can put our creative, innovative skills to use to develop and innovate products and services to help solve these problems.

So, much more important than a big, breakthrough "magical big idea" that's never been done before is UNDERSTANDING your market and your customers intimately.

And you know what's even more important and powerful than understanding your market's needs? Actually following through on developing an effective solution for them!

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