The traditional next step would be to create a business plan. Are we going to create a business plan?

Hells no!

Business plans are required if you are going to seek funding from a bank or investors. It’s one of their tick boxes to make sure that you have done your homework.

For the most part though business plans aren’t worth the paper they are written on.

Instead they are just a way to procrastinate and never start the business. They feel extremely productive - wow, look at your glossy business plan - but don’t help us build a business.

Instead we just need to start.

I can feel the resistance radiating off you already. And I get it - starting is hard! It opens us up to failure.

Instead maybe you want to work on your business idea. Make sure it’s perfect.

Here’s the hard truth : your idea is crap.

Sorry, but it is.

All initial business ideas are!

Here’s a more detailed account of my first online business if it’s of interest:

My story isn’t unusual.

It’s the same for most entrepreneurs. All early business ideas are crap.

As soon as your idea reaches the market it’ll very likely tell you this! People won’t buy. You don’t have product-market fit.

But that’s fine - we just adjust the idea until we have fit.

That is the key to entrepreneurship.

Remember:

Ideas are easy.
Execution is hard.
Sustained execution is almost impossible!

So whatever idea you generated above is enough to get rolling with. Don’t try to refine it any more but instead let’s get going.

Worried about people “stealing” your idea? You are still overvaluing the idea rather than the execution.

Your next action therefore is to go ahead and share your idea in the group. Come and tell us what you are working on and see what people think. It’s a friendly group and people will be happy to provide feedback.

This is an important first step in getting over the belief that the idea itself matters. It’s extremely healthy to get out of that mindset and instead start talking with other people openly.

Let’s now take you basic business idea into the next Module were we’ll start to build an audience around the idea.