On Business

Most new startups fail because of this

Build it they will comeYou’ve heard the expression, “If you build it they will come”? It’s a myth and it’s a dangerous one at that. Too many startups and blogs are created believing (or hoping) it to be true. And some would say it is the reason most new startups fail.

There is too much noise today. Every new idea needs to stand out. To be noticed it requires PR and marketing. There’s another side to this coin as well. As a creative individual I get lots of ideas that make perfect sense to me. Eureka! But as an entrepreneur I’ve learned that I need to validate them. They need to make sense not only to my business partners but most importantly to the customers. I’ve learned to ask customers questions in a specific way. Asking the question, “Will you sign up now to pay for this when it is built?” Is totally different from “Would you use this?” If the answer is no too many times to the first question then I need to go back to the drawing board.

By Jonathan Whiting

I enjoy sharing what I am learning and hopefully it's of interest and help to you. I live in Canada with my wife. Follow me on Twitter.

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