How I would start a business

How I would start a business

If you are thinking of starting a business try my approach, avoid the “experts” and you could be the next big success.

You get told all the time that you need to do research BEFORE starting a business, but how much research should you do and why should you follow someone else’s idea of what they feel research is?

In my view, if you have an idea that you have identified a need for, then you should just run with it and not worry too much about pricing, business planing and certainly not a marketing plan.

 

 

Here are my reasons why you shouldn’t do any market research but first we need to agree that you have at the very least have identified a market need. I’m not suggesting that you shouldn’t think about your idea before splashing out money nor finding investors because if you have it wrong they’ll just laugh at you.

I know of a young successful businessman called Ben Towers. At the age of 11 he started building websites, now at the ripe old age of 17 and a millionaire, he has been said to be one of entrepreneurs to lookout for in the future.

Did Ben at the age of 11 stop and ask himself “hey, how many businesses are there in my catchment area?” or even work on budgets and forecasts not to mention a business pan? No he didn’t, Ben liked the idea of making a little a extra cash and the business grew from that.

But lets face it, if you were good at market research you probably wouldn’t be so good at whatever your idea is, unless it is market research.

The problem with too much market research is that if you ask the wrong people, or ask the wrong questions, you can convince yourself that you don’t have a good idea, which before you started your market research you were convicted that it was going to work. Unfortunately we live in a world of old cronies, has beens and wannabes who feel that they “know” how to start a business but you know something? if they had any idea of how to start a business they would have done it.

I once worked on a radio startup project where we lost a member of our team who in her mind thought that we were unprofessional because, in her mind we hadn’t done the market research which she needed to convince herself that we were on the right track. I asked her what questions she wanted to ask. The first question that she needed an answer to was “would you advertise on the radio?” had she’d asked me I would have told her from the start that the market that we were aiming for do not advertise on the radio. I can hear you muttering that I may be arrogant, but I know my market because I mix with them, I network with them, I hangout with them, why shouldn’t my view matter? Then in a heated outburst she said “I teach this all the time at college” and then it dawned on me. “Those who can do and those who can’t teach”. There is nothing wrong with the philosophy but you can hardly call these people experts because they have never experienced having a businesses, they have never had to spend their money by remortgaging their house nor borrowed money to make they business work..but they seem to think that they are qualified to give businesses advice not from experience but from a book..seriously?

Be careful who you ask:

I have two really good friends. Lets call them Bill and Ben. Both have had businesses and now in their late 50s and maybe early 60s and are considering what their next big thing will be. It could be that they retire but in their heads they are still 35, the girls still fancy them and they consider themselves business experts.

**If you are a young person reading this article remember this: As people get older they do not get wiser. As people get older two things happen to them, one, they lose all dress sense and two they become confused.**

Bill and Ben can’t remember the last time that they signed a big contract. That isn’t to say that back in the day they didn’t do well it’s just that time has moved on and these two haven’t moved with it. Anyway the reason for telling you about Bill and Ben is that whenever I want someone to trash an idea I take it to them. Their strong point is that they will rip an idea to bits negativity and in doing so they also point out the things that you might want to lookout for. I have had many ideas and I throw them in the ring and listen to them tear it bits telling why we shouldn’t do it and that they wouldn’t buy it. God, it goes on forever but again it does give you food for thought. You shouldn’t NOT follow through with your idea just because a couple of old cronies feel that it wouldn’t work for them. They don’t live in your world and certainly not in your social circle, so how can they realistically speak for anyone else other than themselves? I always listen to what they have to say but it certainly doesn’t stop me from having a go.

Advise:

When it comes to taking advise from “experts” or “has beens” or even “wannabes” take each bit of advice and flush it down the toilet. These people have no idea how to start a businesses because if they did they wouldn’t be talking to you because they’d feel too important to give you the time of day so, whatever comes out of their mouth is poo. The advice that they want to give to you is nothing but the things that they tried and failed at, the regrets that they had. But there again, if you are looking for advice on how to start a business, should you be in business?

There are text book experts out there. These people seem to think that because they have rad something that they are experts. They seem to think that unless you can make it happen on paper, that it isn’t a viable proposition.

If you have reached this far here is my advice:

If you have an idea, find three people who you don’t know. People who are either in business or have had a business. If you are worried about what they will do with the information ask then to sign a non disclosure agreement (NDA). Most people who want to help you will have no problem with an NDA.

Tell them your business idea and ask them not to be polite when giving you feedback. Then listen to the feedback and move on to the next person until you have had three different people listen to you. you will then have three open non biased opinions. do not as your family nor friends what they think. Family and friends will rather lie than break your dream.

Once you’ve listened to the feedback from these strangers you will be in much better position to make a decision on whether you should move forward or not.

If you would like to discuss your idea with me, just get in touch!

Good luck

What does free mean to Vista Print?
Social media and dodgy email accounts.
 

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Sunday, 26 May 2019
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