Are You Risk-Averse Or Risk-Embracing??

I’m so charged up right now!  I have the best freaking idea and I’m so excited to work on it!!!

I LOVE channeling my inner creative spirit!  Sometimes it goes into overdrive.  It’s like I can’t stop it.  LOL, do you get the reference?  The Girl Next Door??  Elisha Cuthbert, former porn star, Emile Hirsch, her younger, sex-starved neighbor??

Anyway, big ideas usually come with equally large risks, and not all of them are financial.

For example, if you’re going to dive head-first into a new venture, is your Hubby going to freak out about piling on the debt to get your idea off the ground?  Since he only has his past experiences to draw upon, things might not look too promising for you. Crikey, am I ever going to redeem myself???

Is the risk of an ugly divorce worth all the effort?

Of course, if you’re a gambling person in need of startup funding you could always put your investment on black and roll the dice in hopes of making the rest.  It COULD work…

One defense mechanism you definitely need in your arsenal to overcome said risks is P-A-S-S-I-O-N.  Do you know why?  Passion won’t pay the bills but it’ll drive you towards getting your idea out there and perfecting it so that everyone immediately gets the value proposition.  That creates D-E-M-A-N-D.  And then follows the $$$$$.

See a need, fill a need!  Wow, I’m full of movie references today!

Ever see the movie Robots?  If you’re an inventor/innovator/entrepreneur, you should watch it.  It totally inspires you to get out there and find ways to make the world a better place!  Seriously!  How apropos for a kiddie flick.

Courtesy of Wikipedia

Courtesy of Wikipedia

My idea is fabulous because it is a game-changer!  It’s disruptive!  I had my “ah-ha” moment.  And it was AWESOME!

There has to be an observed need for an idea to gain traction.  And it can’t just exist solely for your own personal purposes.  You have to solve for pain points of the masses.  Making your own life less complicated is nice in theory but it won’t earn you any awards.  Think BIGGER!!!!

Ask the question – can my idea make lives easier?  If so, HOW?  That’s all part of the value prop, too.  And if there’s perceived value, there’s perceived benefit, both worthy of serious financial gains!

It’s such an exciting prospect…to smash out of the box (I’m imagining the Hulk now, kiddies are watching The Avengers).  But make yourself a promise…absolutely love the idea because if you don’t, nobody else will.

 

Nice To Have Or Need To Have? Don’t Count On Mom To Make The Final Call

I came across a great article on Silicon Moon about how to most effectively gauge market interest in your product or service.  The original article was posted to Venture Beat.

Key question – Does it disrupt the numbing normalcy that we’ve grown used to in our daily lives?  Because if it doesn’t, there’s no market for it.  Period.  So, pick a new hobby.  Seriously.

Courtesy of www.venturebeat.com

Courtesy of www.venturebeat.com

Have you ever heard of the Mom test? A great article on The Startup Toolkit says that you should never run an idea past your mother because in her eyes, everything her child does is fabulous, therefore she’s not in a place to poke holes in it.  And if the idea stinks, she won’t be honest with you for fear of crippling your creativity and drive.

Not the case with my mom.  She’s probably the ugliest friend I have.  She shoots holes in EVERYTHING.  It doesn’t matter that I’m her daughter.  That never stops her from voicing her opinions.  That’s pretty much the opposite of the typical motherly response.

Jeez, it would be nice if she threw me a bone now and then.  She could preserve the remaining few shreds of my self-confidence.

Here’s another interesting point…even if you have the OMG idea, if you’re not passionate about it, it’ll still be a hard sell.  Because really, if you can’t believe in your product, no matter how good it is, how can you create a need for it?

It’s difficult.  Think about it, people who are super-dedicated to their efforts have a kind of contagious enthusiasm about them.  It can make the idea seem better than it may actually be, just because they are so driven.  Don’t get me wrong…it’s not going to apply to EVERY idea out there just because someone’s excited about it.  A person can be passionate about an organic edible handbag but that doesn’t mean people are going to actually buy it (or eat it, for that matter).

Am I right?

 

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