So do you think you have finally come up with the PERFECT business idea? Ready to jump right in? Gosh, I hope not. The most costly and dangerous mistake you can make is to not begin by investing in properly testing your idea.
Every good business idea must go through a two step process to become a successful business
- First, you have to identify something people want that you uniquely can deliver.
- Secondly, you have to figure out how to make money giving it to those who want it.
Take Google for example- early on google did a fantastic job building a product people wanted. Google was equally able to get users, see massive user adoption and gain traction. They had only one problem- it took them literally YEARS to figure out how to make money doing it.
How many times have you experienced something you have created being interesting and desired in the market place but yet few, if any, are willing to pay (enough) for it? Can you afford to fund your start-up for years, like google, without turning a profit until you can figure out how it will generate the right amount of income for you? It’s ok- don’t worry about it. Not too many of us creative types– including this postmortem restaurantier– can.
On my way home from a meeting today I found this empty restaurant on Randolph Street with the words Forgive Yourself scrawled on the awning. Did this chef/creative entrepreneur BEFORE they committed to an expensive location, and the possibility of both financial and emotional ruin, inexpensively and strategically test and iterate their concept until they were certain it would work as they envisioned?
You will never have to be in the position of having to “forgive yourself” if you have the proper training and entrepreneurial support systems around you to build the know-how to test, iterate and ultimately launch a creative enterprise. There is a reason why it takes 2 years to go through The IAE. It’s because we know what it takes to help you to help yourself succeed…