What Am I Missing? Adapting Your Business
Sometimes, the world is cruel. We feel your pain. You've dreamed and designed, you've borrowed money and scrounged favors. You've built a bullet-proof business plan, and created version 1.0, only to find, to your great disappointment, that nobody else believes in it. Welcome to entrepreneurship.
There are a few things to keep in mind when it seems like the world is out to crush your dreams:
- No is easier than yes. For an angel investor, you're asking them to take the money that they've risked everything to earn, and to invest it in your dream. That's a big ask. There are a million reasons to say no, and the most likely one is that their vision simply doesn't include what you're doing. Take heart. Even billion-dollar companies are faced with more skeptics than believers. For every person who owns Apple shares there are hundreds who don't. That's just the way of the world.
- Find cost-effective ways of getting your idea out there. You don't need to fly to California to pitch your concept. Use social media to join entrepreneur groups who can help you develop your plan. And not to turn this into a pitch article, but look at sites like Liftoff Capital, where you can expose your business concept to investors online.
- Ask for help. Have a friend or colleague review your plan and offer feedback. Use their feedback to make improvements.
- Be adaptable. You can learn more information about your target market in a day of internet searching than your ancestors could learn in months of expensive market research. Adapt your plan to hit the major pain points you find.
Good luck out there!