I am a keen cyclist and whilst out for a bike ride found myself
alongside a budding entrepreneur. For
nearly two hours this guy listed every business initiative and get rich quick
scheme imaginable. It started innocent enough but after I while I sensed a
pattern. Here is an (abbreviated!) extract of our conversation.
Idea 001
X: I want to get into cloud technology offering secure solutions
to high networth family office
T: Oh that’s interesting. Do you know a lot about cloud?
X: No
T: What do your high networth clients think?
X: I don’t know I haven’t asked any
Idea 002
X: I have thought about getting into bit-coin
T: Have you been to any of the local seminars or
conferences?
X: No
T: Have you been to Digital Jersey Offices for any of their
meetings?
X: No
Idea 003
X: I have an idea for captains of superyachts [shares idea]
T: Interesting, have you chatted to any of the luxury yacht
suppliers about this
X: No
By now I could quickly see that the next 30-40 miles would
simply be a list of vague ideas from someone with a combination of being
desperate for money and not motivated enough to do anything about it. So I
suggested the following (based on brilliant advice from Steve Jobs)…
Dress smart, go to a luxury bar or hotel, get to know the
wealthiest people in the place. Buy them a drink and listen to what they whinge
about. What is their pain? What is their problem? What do they need? That is
all the market research that you need: Then go and do something about it!
It seemed to be a revelation that perhaps the customer
should be the focus of the idea rather than the potential income. Too many
people come up with a product but are unsure what problem they are trying to
solve. These products are novelties. If you want to be valued by a customer do
something that makes their life better, easier, happier, more efficient or more
effective. People value that.
Idea 134
X: I have a nutrition idea for athletes [shares idea]
T: Interesting, since you’re a cyclist you clearly know something
about this. Do you know much about food.
X: Yes, I am a chef. I used to cook for royalty.
T: Wooooa! That’s it,
that’s what you should do! It is something you know about, it is something you
could do. You could start tomorrow.
X: Yes but….. [long list of how busy he is, and how many
other commitments he has]
I suggested.. How about you start something in your kitchen
this week. Make a prototype. Share it with the 20 cyclists in front of us. Get
their feedback. Use them as your market research and product development. It
may take many months, but perhaps my working with a coach you can also provide
both the nutritional and performance value. Then, and only then, do you have a
product you could take to investors.
Idea 135
X: I’d like to be a gardener in France
T: Gosh I think that’s my turning here. Cherio!!
CONCLUSION
1. Decide
what you are going to do
2. Make
a plan
3. Write
it down
4. And
work on that every single day
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THE AUTHOR
Tim Rogers is an experienced Project and Change Leader. He
is founder of www.ciChange.org and
curator for www.TEDxStHelier.Com .
He is Programme Manager for the commercialization of Jersey Harbours and Jersey
Airport. He is also Commonwealth Triathlete and World Championships Rower with
a passion for teaching and learning and is a Tutor/Mentor on the Chartered
Management Institute courses.
Mob: 07797762051 | Twitter @timhjrogers | Skype
timhjrogers
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