Comments on: The 3 Most Common Mistakes When Growing an Idea into a Business http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/ Young Entrepreneur Forums - your online discussion forum to share and talk about Entrepreneurship. A place to learn and to help others with starting, managing and growing successful business ventures. Thu, 09 Feb 2012 11:43:00 +0000 hourly 1 http://wordpress.org/?v=3.0.5 By: Ankur Oberoi http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-24818 Ankur Oberoi Wed, 10 Nov 2010 20:58:39 +0000 http://www.youngentrepreneur.com/?p=5525#comment-24818 I'd like you to address a concern of mine regarding point 3. Sometimes I think "Wow, this is a great idea, for it to exceed it needs to be executed VERY WELL, a user's first impression cannot be wasted on a half-baked version." That ends up being the place where I have trouble with this idea. Don't you think a user's first impression is super important, too important to waste a great idea with subpar execution? I’d like you to address a concern of mine regarding point 3. Sometimes I think “Wow, this is a great idea, for it to exceed it needs to be executed VERY WELL, a user’s first impression cannot be wasted on a half-baked version.” That ends up being the place where I have trouble with this idea. Don’t you think a user’s first impression is super important, too important to waste a great idea with subpar execution?

]]> By: StrategicBusinessTeam.com http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-18316 StrategicBusinessTeam.com Wed, 04 Aug 2010 01:34:30 +0000 http://www.youngentrepreneur.com/?p=5525#comment-18316 I am sorry house but i totally disagree with point three. True entrepreneurs are not perfectionist and will never be. If you are looking for perfectionist, check out professionals such as doctors, accountants, etc. Smart entrepreneurs start with what they have at hand and pick the rest along the way. Don't wait for all lights to go green before you launch your business, a perfect time does not exist. It only exist in the mind of fools and dreamers. After all, Henry Ford said "I thank for my customers, they but my products before they are perfected." A word is enough for the wise. I am sorry house but i totally disagree with point three. True entrepreneurs are not perfectionist and will never be. If you are looking for perfectionist, check out professionals such as doctors, accountants, etc.

Smart entrepreneurs start with what they have at hand and pick the rest along the way. Don’t wait for all lights to go green before you launch your business, a perfect time does not exist. It only exist in the mind of fools and dreamers.

After all, Henry Ford said “I thank for my customers, they but my products before they are perfected.” A word is enough for the wise.

]]> By: Jonathan Kay http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-18208 Jonathan Kay Mon, 02 Aug 2010 14:09:12 +0000 http://www.youngentrepreneur.com/?p=5525#comment-18208 Thank Michele! Whats so great about the time period we live in, is we don't need to judge ourselves so hard as the community will actually do it for us! Communication is as open as ever before. Especially with all of the customer feedback tools available now, you can learn so much by just putting something out there and seeing what happens! Thanks again for the kind words. Jonathan Thank Michele! Whats so great about the time period we live in, is we don’t need to judge ourselves so hard as the community will actually do it for us! Communication is as open as ever before. Especially with all of the customer feedback tools available now, you can learn so much by just putting something out there and seeing what happens!

Thanks again for the kind words.
Jonathan

]]> By: Michele http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-18075 Michele Sat, 31 Jul 2010 11:55:33 +0000 http://www.youngentrepreneur.com/?p=5525#comment-18075 All great points Jonathan! I especially like point # 3 - waiting thing to be perfect before launching. This seems to be a unfortunate side effect of being an entrepreneur... which is understandable since we always want to put our best foot forward. And if it doesn't look right than we get stopped. I can only speak for myself, of course :-), but I find it takes practice letting go of the need for perfection and stop judging your work so much. But I'm glad to say it DOES get better in time. Thanks for the great post! All great points Jonathan! I especially like point # 3 – waiting thing to be perfect before launching.

This seems to be a unfortunate side effect of being an entrepreneur… which is understandable since we always want to put our best foot forward. And if it doesn’t look right than we get stopped.

I can only speak for myself, of course :-) , but I find it takes practice letting go of the need for perfection and stop judging your work so much. But I’m glad to say it DOES get better in time.
Thanks for the great post!

]]> By: Brenda http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-18025 Brenda Fri, 30 Jul 2010 23:27:35 +0000 http://www.youngentrepreneur.com/?p=5525#comment-18025 The key, I think, is not being stubborn. It may be your dream and your ideas, but having a person to give you a dose of reality and point out problems is necessary rather than having someone who's going to agree with you on everything. <a href="http://www.creditreport.com" rel="nofollow">Free Credit Score</a> The key, I think, is not being stubborn. It may be your dream and your ideas, but having a person to give you a dose of reality and point out problems is necessary rather than having someone who’s going to agree with you on everything.

Free Credit Score

]]> By: Jonathan Kay http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-17960 Jonathan Kay Thu, 29 Jul 2010 18:45:42 +0000 http://www.youngentrepreneur.com/?p=5525#comment-17960 Jason & Jake...thanks so much for the kind words as well as taking a minute to share some of your own personal experiences. I probably have to give credit to my parents for this one, but some of the best lessons i have ever learned have simply been from making mistakes. Its also good to hear you guys are having fun along the way, thats what its all about for me. Jonathan (@grasshopperbuzz) Jason & Jake…thanks so much for the kind words as well as taking a minute to share some of your own personal experiences.

I probably have to give credit to my parents for this one, but some of the best lessons i have ever learned have simply been from making mistakes.

Its also good to hear you guys are having fun along the way, thats what its all about for me.

Jonathan (@grasshopperbuzz)

]]> By: Jacob E. Dawson http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-17942 Jacob E. Dawson Thu, 29 Jul 2010 08:55:49 +0000 http://www.youngentrepreneur.com/?p=5525#comment-17942 Great post. I've made more mistakes trying to create a profitable startup (and failing) in the past 2 years than at any other time in my whole life - Funnily enough I've had a great time and in the process I've learnt many valuable lessons. 1.) Old adage - fail fast. A lot of time was wasted umming and ahhing without actually launching anything. In the meantime competitors were out there reaching real life customers, making mistakes with minimum viable products and iterating quickly. 2.) Hire the right people. I was more concerned about having someone on my team rather than finding the right person for the job. This backfired on me 3 times in succession. Within reason, take your time finding co-founders - it's one of the most important decisions you make in a startup. 3.) Spend some money. Don't splash it about, but spend it to get results. A lot of my problems were caused by trying to save too much money. Fact: people working for free have a next-to-no incentive unless your reality distortion field is Jobsian. The great thing about being an entrepreneur today is that you can outsource a lot of the work to experienced overseas professionals at very low cost. The internet is your friend. Cheers, Jake Great post.

I’ve made more mistakes trying to create a profitable startup (and failing) in the past 2 years than at any other time in my whole life – Funnily enough I’ve had a great time and in the process I’ve learnt many valuable lessons.

1.) Old adage – fail fast. A lot of time was wasted umming and ahhing without actually launching anything. In the meantime competitors were out there reaching real life customers, making mistakes with minimum viable products and iterating quickly.

2.) Hire the right people. I was more concerned about having someone on my team rather than finding the right person for the job. This backfired on me 3 times in succession. Within reason, take your time finding co-founders – it’s one of the most important decisions you make in a startup.

3.) Spend some money. Don’t splash it about, but spend it to get results. A lot of my problems were caused by trying to save too much money. Fact: people working for free have a next-to-no incentive unless your reality distortion field is Jobsian. The great thing about being an entrepreneur today is that you can outsource a lot of the work to experienced overseas professionals at very low cost. The internet is your friend.

Cheers,

Jake

]]> By: Jason http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-17925 Jason Thu, 29 Jul 2010 00:09:43 +0000 http://www.youngentrepreneur.com/?p=5525#comment-17925 Nice article Jonathan. Your article sums up what it's all about: 1. Solve an important problem 2. Fail fast 3. Hire people that will help you reach your goals If you can check off all 3 of these things when starting your business, you're going to be very successful. Neglecting even one can cause failure though. Good read. Jason Nice article Jonathan. Your article sums up what it’s all about:

1. Solve an important problem
2. Fail fast
3. Hire people that will help you reach your goals

If you can check off all 3 of these things when starting your business, you’re going to be very successful. Neglecting even one can cause failure though. Good read.

Jason

]]> By: steve http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-17924 steve Wed, 28 Jul 2010 23:33:55 +0000 http://www.youngentrepreneur.com/?p=5525#comment-17924 I have made so many mistakes that I can't even remember and it just frustrates me to think about it, but after you've gone through it, it was worth it for all the time that you spend on it. I have made so many mistakes that I can’t even remember and it just frustrates me to think about it, but after you’ve gone through it, it was worth it for all the time that you spend on it.

]]> By: Matt Auckland http://www.youngentrepreneur.com/blog/the-3-most-common-mistakes-when-growing-an-idea-into-a-business/comment-page-1/#comment-17920 Matt Auckland Wed, 28 Jul 2010 22:01:36 +0000 http://www.youngentrepreneur.com/?p=5525#comment-17920 I totally agree with point 3, "Waiting until things are “perfect” before you launch". I'm waaaay to much of a perfectionist for my own good, and I'm even doing it now on my web start-up. Part of me says "launch it into beta already" other part says "doesn't look right yet, hold off, it needs to be spot on". The fact of the matter is myself, and any one else in a similar situation, should use the label Beta as an excuse just to get the rough product out there. Then fine tune it and make it look pretty once users have had a play. Good read. I totally agree with point 3, “Waiting until things are “perfect” before you launch”.

I’m waaaay to much of a perfectionist for my own good, and I’m even doing it now on my web start-up. Part of me says “launch it into beta already” other part says “doesn’t look right yet, hold off, it needs to be spot on”.

The fact of the matter is myself, and any one else in a similar situation, should use the label Beta as an excuse just to get the rough product out there. Then fine tune it and make it look pretty once users have had a play.

Good read.

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