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Warning! Watch out for this mistake...
If you don't have much experience in business, this is a common mistake. It's to say - "I wouldn't buy this, so nobody else would want to buy it either."
However, there are thousands (maybe millions) of people buying things every day that you would never buy. For example, I find it hard to imagine going to a restaurant where I'd spend $100 per head for a meal... Does that mean that nobody ever goes to restaurants which charge $100 per head for a meal? Of course not... There are restaurants like this in probably every major city! Not every product is for everyone... So just because you would not buy some product, doesn't mean that nobody would buy that product. To use my earlier example, $100 a head sounds like a lot to most people. But if you're earning $1 million a year (or perhaps even a few hundred thousand), it's peanuts. Some people wouldn't eat in a restaurant that charged less than $100 a head! There are a lot of "beginner's" mistakes I hear about when talking to people about business... There are a few others I could rant on about too... but perhaps this is enough ranting for now. - Dien |
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