What separates a dream from a viable business

Posted: August 11, 2010 in Business Advice

You wake in the night with a fantastic idea and hurriedly write it down – It’s your dream.
You are passionate about it enough to talk to a few friends and associates – It’s your dream.
You rush to the workshop and create a prototype. Family is impressed – It’s still your dream.
You proudly take the prototype to a prospective buyer or two.

It’s not quite right, or worse – its completely wrong

Dream meets reality

IF you had spent time up front finding out more about prospective customers needs.
IF you had spent time finding out what the opposition is doing, buy one and review it.
IF its a service – go along and try their service – or at least call and act interested.

IF you had done some basic market research:
You would risk reality intruding on your dream earlier.
You don’t avoid reality. You cant avoid reality.

This is what separates you and your dream from a viable business.

Truth is: if you are avoiding doing basic research on the market for your idea – you are afraid of what it might show. And that alone is good reason to do it – even for projects already underway.

Are you up to the challenge? Well are you?


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