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12 Comments

I keep quitting my business ideas. How do I stick with something?

I come up with a problem, develop a solution, look at some competitors offering products and do research.

I get excited about the possibilities, but when I start doing more research or begin implementing the idea, I get discouraged because I feel that the competitors are much smarter than me in the product category.

I also feel unqualified to build the solution because I don't have X amount of experience.

Anyways, sorry for the rambling. Has anyone gotten through this?

on March 18, 2020
  1. 7

    I was like this 100%. What helped me:

    1. finding niche that is not well understood by other competitors
    2. choosing topics that interests you / product that you want for yourself - my current rule is "if I will not use it myself even when business fails, then it's not worth building"
    3. spending more time on idea research, so that you don't start building something you don't truly believe in
  2. 5

    I was also like this for a long time. A quote from Bob Parsons helped me:

    Pay attention to your competitors, but pay more attention to what you’re doing. When you look at your competitors, remember that everything looks perfect at a distance. Even the planet Earth, if you get far enough into space, looks like a peaceful place.

    1. 1

      Love this quote!

  3. 3

    Haha we have the same problem, you are an generalist, you can think into systems understand them and develop great ideas to solve them, but when it comes to hard work especially where you need specialist knowledge you quit. You need a team of specialists around you that can
    catalyze your ideas into products. Search for a solid mind thinker

  4. 2

    The reason you feel that way and quit is because you think the solution is what should differentiate and sell itself. The reality is that it's sales that sells what you're building. Which means talking to customers. Which means understanding their problem first hand. Which means realizing that your solution may need to look different than what it is now. Which is a good thing. Now you might be able to build a business...

  5. 2

    'Analysis Paralysis' is the keyword that you need to get through. Please look into it and next time you'll know where you're going to stall, so you just might be ready.

    1. 1

      Analysis Paralysis. This is exactly what I am suffering from...
      Found Wiki article on ways to overcome this:
      https://en.wikipedia.org/wiki/Analysis_paralysis#Preventing_and_overcoming

      1. 2

        yup, it's a real thing, I didn't even know I had it and that it was a real deal. It is, now I've become more decisive just by accepting the fact that this is a real thing.

  6. 2

    @dropcode, this is a very common feeling to have. If you put the emotions aside though, and look into the statements you're making, you can debunk them and move forward:

    You don't need experience to solve problems. However, it will save you time. But it takes time to gain experience anyway! Plenty of people switch careers or invent new products outside their domain of expertise. There are plenty of companies that grew big based on salesmanship alone.

    Unless you're building a trivial product, things are so complex that you will end up with an apples-to-oranges comparison in relation to your competitors, so you will automatically be different and can do your sales pitch based on those differences. For example, look at how many products are in the marketing automation space and they're all quite different if you look past the name.

    As a small company, you always have the same standard advantages; first and foremost, that you offer attentive support with a fast turnaround time. Read this article for more examples on how to outsell the big competitor: https://training.kalzumeus.com/newsletters/archive/enterprise_sales

    Lastly, remember that each big company had a first day once upon a time and they did just fine!

  7. 1

    simple test.

    Ask yourself what you will be doing on a Sunday morning at 7 am? Try to make that as a business.

  8. 1

    Remember this. EVERY SINGLE endeavor will have a trough of sorrow. You have to get past that to know if you can actually get gold. You can't get past that step once, you'll never get past it.

    If you're not getting traction. You're not doing the right thing or your product sucks. Get the data. Talk to more people. It requires 100 messages a day at least.

    If the product does suck. Do something about it. ADAPT, either get better at coding/design or be strategic and hire someone to do it. Don't have money? Find a way to get it.

    This s&*$ is not easy bro. Understand that, with persistence, and adaptability. Then and only then can you acquire the gold.

    What I've said is just my 2 cents from what I am personally going through and what I have learned from others.

  9. 1

    If you think your idea is too big or difficult to ever be fully realized, then don’t think of it being fully realized. Think of the smallest possible piece of the idea that is guaranteed to exist in the fully realized version and start building that instead. Then, find self-satisfaction in solving the smaller problem. That is, congratulate yourself for doing the most minor, but complete, aspect of the project. This approach produces a more linear satisfaction function (proportional to overall output) which gets you more absolute satisfaction "units" versus the approach of feeling no satisfaction until the entire project is complete, which is a step function.