A common mistake among young entrepreneurs relates to a fundamental fear of their own value proposition. As many of you know, we see a lot of early stage companies seeking fame and fortune. These intrepid individuals create a new idea or new product to change the world. They then become master articulators about the concepts behind the idea. Right about the time when they need to put the idea or product in front of customers, they create work. Procrastination work. The often painful task of getting real customer feedback takes a back seat to business plan development, partnership strategies, Powerpoint slide development, etc.
Placing your product or idea directly in front of the most demanding customer, whether in person or on the internet, is critical to getting EARLY feedback. If you are developing a gardening product, go to Home Depot and see how far you can get. If you are developing the newest spin on Groupon, get in front of merchants who have rejected Groupon’s value proposition. If you are building a new non-invasive nano-camera, get in front of the world’s most notable surgeons. Whatever you do, DON’T spend all your time “seeking money”.