Trap 1: A good idea can make you a lot of money
The fact is that a good idea is neither a sufficient nor a necessary condition for business success.
Trap 2: Once things are made, people will naturally use them
You must fully understand the market and analyze the market. Starting from customer needs, the value of the product is generated in the hands of those who need it.
Trap 3: Apply for a patent and set barriers
In fact, no one will be interested in your idea unless your idea is proven to be successful, but at that time, for stealing students It’s too late to stop imitation and misappropriation.
Trap 4: Your opinion is important
In fact, what you and your partners think about your product does not mean anything. What matters is how customers think about your product.
Trap 5: Trap 5: The profit models are all fake
You can never know how much money your business will make, nor how much money it will cost to occupy the market. The reason for needing a profit model is to allow yourself to think about it comprehensively and convince yourself that your investment will pay off. If you do the math and find that your user base would have to be ten times larger than the current market just to stay afloat, then you might want to reconsider. As Eisenhower said, plans are useless, but planning is indispensable.
Based on this, many entrepreneurs will make a typical mistake. They often say that as long as we occupy even 1% of the market share, we will make a lot of money. Such a statement directly exposes that you have not carefully analyzed the needs of users. You might also say that at least one customer in 100 customers will buy our stuff (or frankly, this is not certain). Thinking this way does nothing to boost your self-confidence.
Trap 6: The knowledge you have is more important than the people you know
In fact, interpersonal relationships are more important than knowledge. Business activities are incredibly complex. No one person is likely to have all the knowledge and experience needed to make a business decision, so savvy people delegate their authority to others.
Trap 7: I need a large portion of the money as start-up capital
You don’t need start-up capital, but you must be willing to do it yourself. You have to implement your ideas yourself, no one is going to do it for you, and no one is going to pay someone to do it for you. The reason is simple: if you're not willing to give up your downtime for the commercial potential of your idea, why should anyone else risk their hard-earned money on it?
Trap 8: Having good ideas is the most important part of my plan
In fact, good ideas are meaningless. What is important is that there is a strong plan to put the plan into practice. Implementation teams of various practices.
Trap 9: It’s better to have no competitors
If there are no competitors in your industry, the most likely reason is that it simply cannot make money.
The best news is that your competitors are all very good. You can always easily find market opportunities, enter them, and then defeat your competitors.