Yesterday I met with an former colleague who stepped down from a C-level job to essentially become a landlord renting out spare rooms in his house and making a nice flexible living doing so. It was very inspiring – and surprising.
We took a walk, and he ‘walked’ me through his business and how he operates it. How he essentially tests every little twist and turn with his guests in order to figure out what works and what doesn’t. And how he always keeps his eye on the operational aspect of it all making sure that the operation is as automated as it can get and relies as little as possible on him actually being there to take care of things.
The operational aspect was mindblowing; always staying one step ahead thinking about everything making sure that what you do is manageable from an operations point-of-view – not making it too complex in the process. The idea is fascinating and intellectually stimulating, and I think there is a lot of value to be had there for start-ups by thinking along the same lines to make things efficient, reduce burn-rate etc. I will definitely be working more on that.
The other day I invited a good acquintance to come and visit us at inQvation and to provide feedback on an idea, we’re toying with. The latter part made sense given that this person has about 30 years of experience within the industry, where our idea potentially offers a new angle on things.
I asked him to talk straight from the gut and tell me what he thought. And his first words resonated deeply: “Ideally speaking this idea is great. Unfortunately, the world – and this industry is not ideal”. And then he went on to provide amazing feedback on potential blind spots and pitfalls based on his wealth of experience, we hadn’t considered at all, and which proves to be critical hypothesis, we need to spend time trying to find a workaround for. Otherwise our idea will tank.
When we said goodbye he apologized for being so candid. But I insisted he shouldn’t and that this was the best feedback we could get at this point in time. Because it showed us some of the potential blind spots we would have essentially zero chance of figuring out on our own. And that is a god sent. Because the blind spots – left unattended – are the ones that could end up killing your idea and/or business.
The other day I spent a good chunk of the day browsing the web reading up on reviews on how current solutions address a particular problem we are looking at giving a new spin on at inQvation Studio. It was most illuminating.
Of course there is always the risk of you being biased by the idea(s) already in your head, when you do something like that. But no matter what getting insigths into what is already out there and why it’s (not) working is absolutely essential for early and very simple validation.
So, the next time you think about an idea and whether it has the potential to make a dent, start by going online and read up on those that went before you. Chances are that customers reviews, anecdotes and so forth will provide you with a much better starting point that anything you can dream up in that creative mind of yours all in your own. It’s real out there.