Have you ever kicked yourself because you saw somebody else promote a business idea that you were nursing?
Back in the 1970s, a salesperson I was working with told me he had built a prototype electric knife, but never got it into production. Somebody else did. (Electric knives became popular during the 1970s.)
We might suffer from “analysis paralysis” — we’re so busy studying an idea that we don’t get around to putting it into action. We may be engrossed in reading about new technologies, like artificial intelligence, or new business ideas, that we don’t “get around to” using them ourselves, unless they’re incorporated in other products or services that we do use.
Meanwhile, someone else takes a chance and introduces the idea imperfectly, and cleans up the mess later. Microsoft has introduced software with “bugs” and invited users to tell them the problems with it to fix it. This gives Microsoft speed to market.
Even when someone else introduces a product or service, nothing is preventing you from going ahead. Look at the current proliferation of electric vehicle makes and models. With concerns for global warming and high gasoline prices, that market is gradually expanding.
Maybe it’s time to put down the books, watch fewer videos, possibly seek some help, and introduce your product or service. It might not be perfect, but you’ll find out how to improve it when others use it.
Do you want a “sounding board” for a business idea you want to promote? Please write to me at mgray@profitadvisors.com to schedule an initial consultation at no charge or obligation.