EP 53: Is Your Business Idea Any Good? Here’s How To Tell

Patience is a virtue, but that doesn’t mean you can’t be TOO patient.

And you know what? A lot of people are.

A lot of people waste a lot of time (+ energy and money) because they’re patient. And dedicated. And committed. And motivated.

ALL GOOD THINGS. But also potentially problematic.

My dad said it this way: “Don’t be afraid of being a quitter. Be willing to quit when you realize you’re in the wrong place.”

You know who I see make the mistake of being “too patient” more than just about anyone else?

Entrepreneurs.

And it makes sense when you think about it. Not only do entrepreneurs tend to be extremely passionate, committed, and motivated, but there’s also this idea out there that success has to take a long time.

…which I don’t entirely disagree with. It definitely takes a while to build a big, successful company. And if you want to build anythingmeaningful, you need to be committed and in it for the long game.

But too many entrepreneurs hear that and think it means that it will take years to make even their first dollar.

So, what do they do? They work for years… for nothing.

And I don’t mean they invest years for an eventual payout.

I mean they waste years working on something that never pans out.

Please don’t make this mistake.

Please take the time to figure out if your business idea is valid.

Research the market. Determine the demand for what you’re interested in selling.

And don’t just stop there… get proof. Share your product (with the right people) and see how they respond. Prioritize generating your first sales before you spend years trying to “build” your business.

Listen to the full episode to hear:

  • 3 questions to ask to figure out if your business idea is valid
  • Why market research is essential to building a successful business
  • How to tell if your business idea is valid and worth pursuing
  • Why it might not take a long time to build a substantial, successful business

Learn more about Gillian:

Sean McMullin