Each week when The Entrepreneur Mind I always have a hard time choosing a strategy to elaborate on. This is mainly because they are all so essential to becoming a successful entrepreneur. However, I always end up picking a strategy that speaks to me the most. For my blog post tonight, I have chosen to reflect on the strategy, "Move On Fast From a Bad Business Idea."
From experience, I've learned it can be very challenging to move on from a bad idea that one feels they are set on. Johnson explains in this strategy, one's first idea may not always be the best idea. He goes on to say, sometimes one's first ideas/first bad idea can be a gut feeling and are usually unrealistic. I agree with Johnson's point about this. And I have noticed myself, sometimes it feels that the first idea is the only one that makes sense. Johnson also emphasizes that, one should not think this way. He says it is dangerous to be limited when coming up with ideas. I can relate to this completely considering it happened to me in our class this year. I remember at the beginning of the year we had to pitch our first product. I thought I had the most unique, authentic idea. I learned this was not the case and it turned out, there were many flaws with my so called "Kit For Success." The Kit For Success was going to be a stick that opened up on one side with the touch of a button. When the stick opened, daily essentials would be neatly stacked inside the stick. I honestly thought I had the solution to everyone’s organizational issues with this kit. I really thought it could be successful. I hadn't taken the time to really sit down and brainstorm. Instead I jumped to conclusions and pitched the first idea that came into my head. At the time I had not been so stuck on this idea. If I had known to move on fast from a bad idea, I would have saved myself a lot of wasted time. I think not moving on from this idea, blocked me from coming up with even better ideas. I truly feel Johnson’s tip about moving on from a bad idea, is the best advice (business wise) anyone could share with an entrepreneur.
Johnson states the fact that entrepreneurs do not settle for anything less than their intended expectations. From reading this book so far, I have discovered entrepreneurs are always searching and acquiring new information. That is why they will not settle for a bad idea. They will continue to brainstorm and attempt to research until they come up with the best idea. Johnson has reiterated this type of thinking throughout the book. This only enhances the fact that moving on from a bad business idea is essential to him. Again, I believe this strategy is the answer. This strategy taught me: it is never acceptable to settle for a bad idea; something that is not your best work.
I am eager to write my blog post for next week! And I can’t wait to read about how Johnson operates as a successful entrepreneur.
I know exactly what you mean: it's so hard to move away from an idea once you have it. It's exciting to have a new idea, one that you think has a lot of potential. Being able to have ideas but not feel wed to them seems like a key to entrepreneurship, but it's a tough one. I like the way you're connecting your reading to your own experiences in the class. Great post.
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