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  • Jock

FIRST, THE MONEY

Is it just me or is everyone trying to create such specialised/ unique things that aren't actually needed?


I was taught that just because you like pies doesn't mean you have to sell pies. GSElevator agrees:





I mean, 'back in the day' - you'd be sitting at a bar, overhear someone talking and saying "we need some trucks for this BP contract", you'd call your mates who had trucks, figure out the handkerchief maths, get another friend to print you up some business cards - and work on a negotiation based on that, live at the bar. Wallah, you have a trucking company with a contract, with money ready to be made.


Just this week someone was telling me about their business idea and simply they couldn't tell me who their customer was, what they would pay and how - but they knew they needed >$15k to build a platform to enable it.


After some discussion, it was clear that this business could start by manually connecting the people that wanted the service and organise a contract to take an introducers clip to start making money. This manual operation could be used to prove (and buy time*) that what you want to create is needed, what people will pay, how often, the sales cycle and any other important insights before investing heavily into the unknown.


And if you had no success, then you would move on.


I am currently doing my own discovery on an opportunity and I won't even be committing time to Illustrator to build a deck or presentation until I know:


- Who my target profile is

- How many of them there are

- That the problem matters enough to them

- That they will pay to even be a prototype user of the idea


I don't need anything to figure that out. Literally just a simple pitch made up in my head, after I did some research and saw an opportunity. Literally $0. Just phone calls and potentially coffee's. After that comes wizard of oz workshops with potential key stake holders. Then I still won't have done or spent anything until I am sure that the numbers add up and the opportunity is there.

If you can't show exact customers, low hanging fruit or acquisition strategies, proof they will pay, a product roadmap based on key stakeholders input and simple reversed engineered short-term revenue generation vs costs - then you don't deserve to get money from anyone.


Start by being more conversational and doing more discovery to narrow down what is actually achievable.


If you can't figure out how to make good money i.e more than what you currently do through this exercise - then don't pursue the idea.


There are of-course some exceptions such as, you are hyper experienced and have the contacts to make something happen OR you are some sort of genius and have some IP or a discovery no-one else knows.


P.s all of my posts are first drafts, my researcher will buff them out — so make sure to write in and ask for extensions or explanations if you are interested. Also, I write the way I speak - I don't particularly care for detailed grammar etc. I don't understand peoples obsession with it.


Thanks.



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