Here's Why Your Bright Idea Won't Work

That bright idea you have for starting a business is probably not so bright.

Here's why:

Ideas have no value.

Business owners understand that.

People who aspire to be business owners don't.

In this video, I shed some light on why that is.

There's actually a very simple way for you to determine if the time is right for you to take the leap or not.

All you have to do is scroll through your personal connections (meaning people you can reach out to and expect them to respond) and pick out all the people who own small businesses that they run full-time and not as a side-hustle.

If you don't have any of those people, then you're not ready to quit your job because you don't have anybody who you can ask a question or who can give you unsolicited advice to help you avoid making costly mistakes that will cause you to go out of business.

Almost half of small businesses fail because people don't actually need or want what they're selling.

That means that bright idea you have is probably not so bright.

An easy way to know is to talk to people who earn their living by getting strangers to buy products and services from them.

If you don't know any of those people, it's a good idea to meet some before you step out thinking you're stepping out on faith when you're really stepping out on ignorance.

Meet some people who run a business before you try to run your own. Anyone who runs a business will tell you that's good advice.

If you need help, start here:

Join the Park Road Studios small business community and get access to a supportive group of small business owners where you can ask questions and get help.