If you build it, will they REALLY come

If you build it, will they REALLY come

We all know the iconic line from Kevin Costner in Field of
Dreams “If you build it, they will come”. 
It was actually “…he will come”, but the business world has taken that
line and transformed it to mean that no matter what you build, people will use
it or pay for it.  As James Earl Jones
said “…they most certainly will come”. 

But will they REALLY.

This business advice can be disastrous for entrepreneurs, as
they cannot just create a product and hope it sells.   It is
still very important to engage your customers for feedback.  The more important statement should be “who
are we building this for?”.

Here are a few things to think about for your next startup.

  1. Your idea is not a secret:  The secret formula to Coke is one thing, but
    ideas are different.  Don’t guard the
    idea like a national secret.  Circulate
    it to see if it is valuable and get some validation to the idea.  A non-disclosure agreement (NDA) is usually
    not needed as most intellectual property is stolen after you are massively
    successful, not before.  Use the startup
    time to openly explain in detail your idea to potential customers.  What questions do they have?  Would they pay for this service?  How much? 
    The earlier you get this feedback the better.
  2. Be nimble: 
    Often the entrepreneur is so consumed with the idea, that they put
    themselves in a position that does not allow for change.  You may think the idea is perfect, but if
    your feedback tells you something different, you need to be prepared to make changes.
  3. Everyone has competition: Your product or idea
    is always being compared to others.  It
    may be unique, but when a consumer makes a buying decision, they will look at
    other options.  Entrepreneurs need to be
    prepared to differentiate their brand and if need be, do it better.
  4. Use your outdoor voice:  Telling your own story is crucial once you
    know who you are.  An entrepreneur has to
    be able to communicate with a confident voice about their brand.  These days, you have to use that voice not
    only on your website, but across all relevant social media platforms and any traditional
    ad campaigns.

There are plenty of tech stories of them “building it, and
people coming”, but make sure you have not stuck your head in the sand thinking
they REALLY will come.  The Smart Money
Move is to not forget there will always be basic foundations of business that
need to be followed.  There is no new
paradigm.

entrepreneur-series
If you build it, will they REALLY come

Minnesota reveals its bid for Amazon’s HQ2

Greater MSP’s bid for Amazon’s second headquarters was made public on Monday, and much as state officials said last year, it contained only modest subsidy offers of $3 million to $5 million, but it did list sites and contain CEO endorsements of the region.

The bid, which was released by Greater MSP following a lawsuit and subsequent appeal by Public Record Media, doesn’t contain any major secrets or big promises. 

Peter Frosch, the new CEO of the private nonprofit Greater MSP, said the decision…

Seattle Biz Journal
Minnesota reveals its bid for Amazon's HQ2

Boca Raton Episode 55 – Erica Sullivan – Founder of Erica’s Plumbing & Restoration

Boca Raton Episode 55 – Erica Sullivan – Founder of Erica’s Plumbing & Restoration
Boca Raton

 
 
00:00 / 00:55:11
 
1X
 

Erica Sullivan / Erica’s Plumbing & Restoration

Erica was born in Hollywood, FL in 1980. She is the managing Member & Founder of Erica’s Plumbing & Restoration since 2009, and is a Florida State Licensed General Contractor as well as a Florida State Licensed Plumbing Contractor and Florida State Licensed Mold Remediator. (more…)

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