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Home > Founder to Founder > EP 74: PHILHSC On How To Validate An Idea In 30 Days
Podcast: Founder to Founder
Episode:

EP 74: PHILHSC On How To Validate An Idea In 30 Days
Category: Business
Duration: 00:11:49
Publish Date: 2018-09-05 14:38:00
Description:
Where do I start with my idea?
I get this question a lot and those who ask usually possess infectious excitement about an idea, are new to product development and remain convinced that their addressable market of customers is massive.
The irony is that 90% of people who ask where to start, don’t.
Deep down they know why and it usually comes down to three reasons.
Fear is the first reason (and there’s an antidote)
The first reason is fear. People fear what they don’t know and more specifically, people fear what others will think of their ideas.
I don’t like venturing into motivational territory because what’s usually said isn’t practical but in this case, I’ll offer two thoughts that always prove true.
The greatest triumphs live just on the other side of one’s fears.
And when you break it down further, fear only plays a significant role when the person believes that the only way forward is all-or-nothing. When it comes to building a company, it’s rarely ‘all in’. The reality is that it’s a series of small experiments and a few successes for every ton of failures.
Here’s the second thought:
The only person who cares enough to be anxious about your ideas is – you guessed it – YOU!
And here’s the antidote for fear in entrepreneurship. Just ask yourself two simple questions:
On the downside, if going from idea to business isn’t all-or-nothing and it’s a series of small experiments, what have you got to lose?
Then on the upside, what happens if someone is willing to pay it?
Feel free to post a photo in the comments with the ‘oh yeah, he’s right’ look on your face :)
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