Just Because You Can, Doesn’t Mean You Should…

Just because you can build another coupon-ing site, another local directory, another mobile app, doesn’t mean you should, does it? In working with entrepreneurs, we have found there are a few things they will often do without properly determining the feasibility of their idea…

• Build what they do not see directly in front of them

• Hire from their immediate circle of friends

Neither of these habits is necessarily bad. However, if you don’t know that the marketplace is flooded with exactly what you want to build and your competitors are much better funded than you and with an exceptional team, that could be a problem. Or maybe your best friend is incredibly supportive, but that doesn’t mean that you want them to be your business development director does it?

A very successful serial entrepreneur friend says, “Fail fast.” Market research and feasibility can tell you if “this” is the idea to put your efforts into or whether there might be better choices. Build Better – Gain Market Share Faster – AND Make Money Sooner.