The Greatest Business Illusions

Every good idea can be turned into a business. False. Good ideas are a dime-a-dozen. Good ideas that solve an existing market problem in a novel, not-easily-replicated way that you can deliver on for 20 points less than it costs you to deliver said solution are businesses.

The Greatest Business Illusions

Every good idea can be turned into a business. False. Good ideas are a dime-a-dozen. Good ideas that solve an existing market problem in a novel, not-easily-replicated way that you can deliver on for 20 points less than it costs you to deliver said solution are businesses. If you miss it all after “good ideas,” you’re in la-la land.

If you build it, they will come. False. This ain’t the Field of Dreams and people won’t flock to you even if you have all the qualifiers from number 1 above. Have a solid, actionable, vetted marketing strategy before you start.

If you don’t succeed, try try again. False. Don’t be too arrogant to say you made a poor decision and don’t be too stubborn to change direction entirely. Markets change, you will need to change with it.

If you don’t succeed, try try again. False. Don’t be too arrogant to say you made a poor decision and don’t be too stubborn to change direction entirely. Markets change, you will need to change with it.

You can live off a strong sales force. False. Sales is only half the equation. Don’t think about sales teams or marketing teams. Think about revenue teams united with the shared objective of growing revenue.

Anyone can start a business. False. The business failure rate is so high because there are a great many people whose friends and family weren’t ballsy enough to tell them that they should never open a business. Some people just aren’t cut from that cloth and that’s okay.

You can be your own boss. False. Welcome to having more bosses than you ever thought possible. Opening a business means your employees are your boss, your suppliers are your boss, and your customers are your boss.

This can be an absentee model. False. I can’t tell you all the poor franchise owners that i hurt for that were sold a false bill of goods on the legendary “absentee model.” It doesn’t exist. Never believe it.

We can just outsource that. False. You can outsource. But that in and of itself takes a vast skillset to manage.

It’s low risk. False. In fact, run away screaming because chances are high that whoever said this is about to stab you.

It won’t take that long. False. Whatever time estimates you are given, triple them, if nowhere else but in your head.

It won’t cost that much. False. Whatever cost estimates you are given, quadruple them, if nowhere else but in your head.

It won’t be that hard. False. Whatever scope estimates you are given, multiply them by 5, if nowhere else but in your head.