One of the most common mistakes I see entrepreneurs make over and over again is getting too attached to their idea. And that mistake can be fatal.
Ideas require work to turn into something that works.
But our attachment to our ideas can get in the way of doing the work required to shape an idea into a valuable product or service.
3 Reasons You Become Attached to Your Idea
1. Confusing your idea with the end goal
Your end goal should always be to deliver something valuable to your end user.
Bringing your idea to life should not be the goal in itself. If bringing your idea to life is what leads to excellent value for your end user - great - go for it! But if your focus is on what you are building rather than what you are offering you need to take a step back and reassess your end goal.
2. Thinking your idea is your only chance
It’s not.
Your idea is only the starting point. You don’t need to nail the concept on the first draft. Instead, see it as a launch pad from which to explore and discover the true value you can deliver.
3. Investing emotionally in your idea People do this all the time. You tie up your self worth with your idea. “If my idea sucks that means I do.” This sort of thinking never leads to anything good. Instead of investing in the idea, invest in the problem. Make it your mission to deeply understand the problem you are solving. That is the path to real value creation.
Why Finding Out Your Idea Sucks is a Good Thing
1. It could save you from failure
Fortune reported that 42% of failed startups interviewed identified the “lack of a market need for their product” as the single biggest reason for their failure. Finding out early that your idea does not hit the mark is the key to getting off the starting line.
2. It will force you to learn When you find out your idea is not that great you can do one of three things:
give up,
plow ahead, or
learn.
Option 1 and 2 will not produce great results so if you’re determined to build something of value you’ll need to open yourself up to learning.
Approach what you are hearing with curiosity and this will help you stop feeling defensive and start absorbing the lessons.
3. You get your customer to help you solve the problem
People not loving your idea? Great. Find out why. Ask them more questions. Learn about what their problem really is. Learn about the solutions they’ve tried before: what worked about them, what didn’t?
Apply this knowledge. Then test again.
4. You realise your idea is not your business The faster you dissociate your idea from the business you are going to build the better. Your idea may have missed the mark - but is there still a problem worth solving? Build your business around the customer’s problem - not your idea.
So how do I work out if I have a good idea or if my idea needs work?
You need to get to know your customer.
And you need to do it without preconceived notions of what your customer needs. The most effective tool to do this is the customer interview. You can read more about getting to know your customer here.
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