I’ve had this exact conversation quite a few times with budding entrepreneurs looking for advice, guidance and of course some marketing power…
…and for some reason, it almost always ends up going to same way. 🙂
I wish it didn’t… but hey, let’s at least examine this a bit.
It goes something like this:
X = prospective business coaching client
X: Well we’re developing this revolutionary product that will take the scene by storm…
Me: Yeah, awesome. But what’s the business looking like?
X: Um…. everybody will want it…
Me: Sure okay. So who is that exactly, and how many will you have to sell per month?
X: Well… we’re looking at investment..
Me: Sure, that’s great. But investors will ask you the same questions. What’s the business like, when you’re successful?
X: Um… we’re not quite there yet…
Me: Of course not. But if you’re not developing for another company, and they pay for it… You’re not looking at the right things right now. Take the business first, not just the product.
X: Yeah but Steve Jobs focused on product…
Me: Steve Jobs sold a bunch of Apple’s first products at a premium.. before it was even halfway done!
Besides, you don’t have a Steve Wozniak to go with your Jobs. You can’t do this alone for long you know.
X: Whatever. I believe in this product anyway, you’ll see.
Me: ….. okay. I wish you the best of luck.
So what’s wrong with the picture here?
Nothing really, if an inspiring hobby is all you’re after.
You get to build the product of your dreams, if it’s not too expensive to realize, see it happen right before your eyes, just like you like it.
It’s understandable if you’ve been working for someone else, to feel that exhilaration, a freedom you haven’t felt before.
But it’s deceptive if you don’t start stacking up on your business skills as well, and especially marketing since you’re entering a virgin market (or so you think).
So to get your pet project, your revolutionary product accepted by your market (yes, you’ll have to decide which slice of the entire 8 billion people you can and should target)
You’ll either have to become a marketer, or hire a seasoned marketer.
Each model can do well, but as an afterthought, neither will.
So, choose wisely.
PS. If you’re actually ready to be coachable to success in your business, new or more established, I do take on clients from time to time. You can book a call with me to explore this, or sign up if you already know this is what you want (and likely know me already). Either way, I’ll talk to you soon!