I just talked to a friend of mine who has a great idea for a business, how things were going. He said he isn’t ready to launch it yet. It’s always something. Not enough money. Not enough time. The idea isn’t fleshed out yet. Yada yada.
He told me about this great idea about 5 or 6 years ago. In fact, he has dozens of really great ideas. Not one of them has ever been done. Not one of them has even been started. I just find it baffling because as soon as I get an idea in my mind I just haul off and do it, prepared or not. I call this Version 1.0. Software companies do this all the time. They get something out there and work out the bugs along the way.
‘Cause here’s the thing… you will never, ever be completely prepared. Even companies that have millions of dollars and do tons of marketing research can still have issues.
I’m sure some people will disagree with me, but I think you should get an idea as good as it can be and then run with it. I would caution against spending too much on it initially though. My first version of swiggies were pretty awful. They were made of a bulky plastic and had a bulky terry cloth band that didn’t stay on the wrist very well and was incredibly hard to thread through the bottle. I bought some off the shelf packaging and had to seal it together with a glue gun. [Read more…]