Thursday, December 19, 2013

The New Entrepreneur’s Dilemma

Now that anyone can turn their passion into a business, anyone will.

And most of them won’t last.

Why?

Because we chase passion at the cost of practicality, and we fool ourselves into the false viability of our own ideas.

It’s the new entrepreneur’s dilemma.

We’re deciding what we want our customers to want, instead of uncovering the actual material realities of their every day lives.

We’re asking the marketplace to care that we’re fulfilling our lifelong dream, instead of listening for the problems they’re asking us to solve. 
                                                                                                      
We’re falling in love with the archetype in our own head, instead of finding something else that’s already in the customer's head and hanging something next to it.

We’re superimposing a prefabricated definition of who our customers should be, instead of focusing on who we are and letting the marketplace fill in the blanks.

We’re trying to persuade people to pay for something they’re not used to paying for, instead of calculating value based on when people think our product is worth more than it costs.

We’re selling something that’s important to us and disguising it as something that’s important to them, instead of asking customers how we can make their lives run smoother.

The lower the barriers to entry, the higher the likelihood of exit.