Through the years of business coaching I often meet an aspiring entrepreneur that thinks he has a multi-million peso business idea.
An idea that could change the world. The next Jollibee in food industry or the next Google in the Internet.
Right after sharing his ideas, he normally ends asking me questions like…
“do you think this business will work?”
“do you think this product will sell?”
“do you think people will love this?”
They’re basically would like ME to validate their business ideas.
Though asking someone with years of experience in entrepreneurship is a smart thing, but the ONLY, I repeat…the ONLY group of people that can truly validate your products, services, or business idea is your target market.
Simply stated, if you have an unproven product or service, the fastest and cheapest way to test its viability is by selling it as soon as possible.
Don’t wait to perfect the product before you release it.
You can always improve it later as you start selling and getting feedback from your customers.
Selling an inferior product will give you immediate feedback from your target market such as:
- How much they’re willing to pay for it.
- What’s the thing they like or dislike in your business?
- How easy or hard to sell it.
- What’s the right medium to sell it? Is it online, telephone, face to face selling, etc.
So if you’re still contemplating with your business idea, here’s my advice…
“STOP DREAMING AND START WORKING!”
You won’t get rich by merely talking about how great your business idea is but by taking it to the market and let the world see it.