Some business ideas are just BAD.
Even the word bad is an understatement.
It is almost doomed to begin with.
Sure – some are uncommon successes that some might have thought they were crazy to even begin.
But I truly believe all successful startups have one thing in common.
They knew exactly who they were serving.
I don’t just use the word “KNOW EXACTLY” in passing.
But really know:
- What their concerns were.
- What keeps them up awake at night.
- What makes them go “I wished they had X….”
- What their interests were
- Where they usually hang out
- What are their political leanings like
- How much they are willing to pay for a product / service
- Why do they feel strongly over certain issues
- Did their dog / cat really ate their homework
OK – so the last one was a stretch.
Without knowing (or at least having an idea) on who you are selling to – selling to everybody has always been a bad idea.
Your solutions would not be as targeted as they should be.
Your marketing message and value proposition would not be even remotely attractive.
Your prospect might not even feel that they need / would pay for what you are selling.
I always believe in sales or a business: You won’t make a sale when you are not selling to the right person or have the clarity of what you have to offer.
But notice – the entire thread still has elements of value creation.
Without value creation. You are not contributing to a better world and making a true difference.
So before you strut off a “really good startup idea” – would be good to first outline who you are selling to and how you can simplify / add value to their lives.
The execution usually falls in place when you get the basics right.
As Bruce Lee said
– “I fear not the man who has practiced 10,000 kicks once, but I fear the man who has practiced one kick 10,000 times.”