Don’t start a business until people are asking you to

When you bake a cake, you need to do first things first. You need to get the ingredients before you turn on the oven. You need to bake it before you frost it and slice it.

I meet a lot of people who want to start a business. Some don’t have an idea yet. I don’t understand this. It’s like wanting to wear a bandage when you don’t have a wound.

Most have an idea but no customers. For them I always say, “Don’t start a business until people are asking you to.”

This is not meant to be discouraging. It just means you need to get the ingredients before you turn on the oven.

First you find real people whose problem you can solve. You listen deeply to find their dream scenario. You make sure they’re happy to pay you enough.

Don’t announce anything. Don’t choose a name. Don’t make a website or an app. Don’t build a system. You need to be free to completely change or ditch your idea.

Then you get your first paying customer. Provide a one-on-one personal service. Then you get another paying customer. Prove a real demand.

Then, as late as possible, you officially start your business.