A couple of weeks back, an entrepreneur, who has been reading my blogs, wanted to run by me, an idea that he is seriously considering as a business. We decided to meet the very next day and it was then that I mentioned that I charge for the Idea Validation service.
There was a visible impact as if a rail was stopped in its tracks suddenly. He called off the proposed meeting immediately and said that he will touch base by the end of the month by when his budgets would be clearer.
And when I sent him a reminder closer to the month-end, he said that he is trying to collect data to validate his idea and that he might revert some time later.
Perhaps this person doesn’t have the money to pay for my service but if that is the case, its very unclear how he plans to get his idea converted into an offering without spending and make it available to his prospects.
So, it’s more likely that he didn’t expect to be charged for the service which is understandable given that there are so many ‘coaches’ and ‘mentors’ who may not charge for one session.
But if this person is looking at this idea seriously and hopes to convert it into a profitable business, it would mean a lasting commitment from his end for anywhere between 2 to 5 years at the least. That would in turn mean taking time from everything else, foregoing current revenue streams and bearing the brunt of social criticism besides plowing personal & borrowed money into the business with no clue as to when it would turn profitable.
The seed for this business venture being the Idea, it is very unfortunate and sad that this person isn’t willing to pay a very small fee to get it validated in an objective manner.
If it turns out to be that there are aspects of this idea he hadn’t considered earlier that would make the entire business unviable, he would have wasted years and money. And to avoid that is what he is paying for an Idea Validation service like VoIS.
In this context, it is very relevant to again share Kevin’s experience
I recall the words of an entrepreneur who engaged with VoIS and said “Within 45 minutes, you helped me see my idea through and saved a few years of my time and lakhs of rupees”
My sincere request to each and every existing and wannabe entrepreneurs with an idea is “Don’t validate it yourself. Get it done by someone who is capable and also emotionally far removed from the idea and yourself to be able to give you an objective assessment and also tell you the basis for his/her assessment”
Engage with us on VoIS & it’s an investment that is worth multiple times.