Vet your business idea

I can taste yo yo, yo I can taste yo, yo, yo yo I can taste yo, yo, yo I can taste. Hello and good afternoon. Are we afternoon? Yeah, it's one o'. Clock. How did that happen? Happy Saturday everyone. Hello. We are doing something a little different today. I am going to be hanging out with you and doing some knitting and going to be answering your questions on your business idea. If it's good, if it's bad, if it is good, then I will be giving you my feedback on what I would do to start replaying some music in the background. Hello, the tapping point. Welcome. Hello. Happy Saturday everyone. Or Sunday if you're down under. You know starting a business is really vulnerable and scary and Hi Dylan. It is super scary and really stressful and it's worse when you have a business idea that kind of sucks. But let me tell you, most business ideas suck and most of the time they need some changes. So if you are starting a business and you really do not know if this is the right path for you, then I want you to pop your business idea in the comments and I will tell you exactly what I think and if you need to be making a change. Playing a little music in the background. Ben? So yesterday I was in bed most of the day. I had the worst headache. I just, I woke up and I don't know, you know when you wake up with attention headache, like maybe you had a really stressful dream the night before I'd gone to trivia and my, you know, I sat on this, on this wooden chair and I don't know if you followed me for a long time, you know that I like I damaged my tailbone last year. Turn this on. And I didn't realize that like it's gonna last like the pain will last really long but it doesn't actually hurt my tailbone anymore but when I have pressure in my tailbone I'll get a headache the next day. So weird. But anyway, hello, welcome. Yeah, so going live and just a little housekeeping. I am going live on the Facebooks, on LinkedIn, on YouTube and on Twitter. Any questions you have about your business idea, please put them in the chat and I will answer them and give you my honest opinion on if they are good or not. Also if you would like to go check out like get a 10 minute deep dive on your idea then you can do that by clicking the link in my bio on TikTok or on Instagram and hello, whatever. What questions do you have on your business idea? You know one of the things that I See, happen a lot with new business owners when they first start start their business is they have this idea and they're convinced that it's good. They're convinced that like this is going to be the moneymaker because it's something that they're super interested in. This is really common with people with adhd. And they get started and they hear crickets because no one's interested. And maybe people are giving them feedback like, oh, that's such a cool idea, but they're kind of blowing smoke up your bum like it's not really. I mean, it might be a cool idea, but there's no actual need for it. And so what ultimately ends up happening is this person who's starting a business gets really discouraged because they're not seeing any progress. They're not seeing anyone sign up for their stuff. Take my hair out because my head is still kind of hurting a little bit and I don't want to put pressure on it. Still wet. Anyway, let me see. Sumit, how do I know my idea isn't total crap? Well, tell me your idea and I will tell you if it's total crap or not. How do I go finding a tech co founder to help me develop the idea? Okay, so great question. And also I have a lot of questions back for you. So what's the idea? First and foremost. And you can get as detailed. The more detail you're comfortable sharing, the better I'll be able to help you. But I totally understand if you're not wanting to share too much because you don't want people to steal steal it. But depending on like that and finding a co founder, you know, finding a co founder, first and foremost, you want to find someone who has complementary skills to you. So if you have no sales skills, guess what? You need to find someone with sales skills. You. Oh no, I messed up in the last row anyway, so yeah, so you want to find someone who has compliments, complementary skills to you. Also someone who's already in your, in the industry that you're wanting to do this business on. So like going to different entrepreneurial groups, maybe some hackathons could be helpful. Drive me crazy. Oh no. Oh no. Oh no. Oh no. I'm missing the wedding. Hi, Mary. Welcome. Yeah, so whatever question you have on your business idea, like pop into the chat, tell me the idea and I will tell you if it has legs or not because the last thing I want anyone to do is to waste their time, money and energy starting something that has no chance of being successful. And unfortunately that happens In a want to. I see it every single day and is really, really sad. So whatever question you have, whatever the business idea is, just pop it right in the chat there and I will tell you if it's something that you should pursue and if it is something you should pursue, I will tell you how I would do it. Let me see here. Can you guys hear the music over and it's not really playing right now? We're in between songs on TikTok and tell me if you can hear the music. It's too obnoxiously loud. And if you're over on LinkedIn, same question. Can you hear it and is it too loud or too quiet? Trying to figure out my setup is so funny. If anyone does want to like ask a question, live with me, then you can go to the link in my bio and you can submit your question for a 10 minute deep dive and then I'll actually have you come on and we will talk through your business idea. So, but yeah, see. Hello. Yeah, so whatever question you have about starting your business, just feel free to ask it in the chat while I repair the damage I did last time I went live. I haven't did it in a really long time. This is embarrassing. Thank you. Hello, Tyrone. Hi, Liana. I love such a pretty name. Carrie reads. Hello. Yeah, any business ideas you have, if you have a question, please, please pop them in the chat and I will answer them. Hang out with me and watch me. People get ideas for what their business should be because you know, there's stuff that they're interested in. They're like, I can totally. And unfortunately some ideas just there's no market for it. And you don't get anywhere. So the idea I have is a tech application that makes organizational goal setting mean less. As a business leader, you answer a few questions about the business strategy, plan, growth challenges, etc. Okay, cool. So you're, you're basically helping them prioritize their, their goals for the business. Correct. My question is what kinds of businesses do you work with? Like what is, what is the industry that you focus on and what's the value proposition of it being different from humans making those decisions? Let's see. Okay, so based on the response, these are the overall business goals and also goals for each C suite leader. In addition, once you feed the overall org structure into it, the system intelligently decides on goals and targets for people. I like to believe this is path breaking and has never been done before. But maybe that's also because it isn't large enough to scale So I like the idea. The things that I think you're going to struggle with are trust, because basically those are the jobs that the CT is, right? Like, that's something that they're brought in to decide on. And if you're replacing them, they may not be a fan, and they're the ones that are ultimately, you know, signing the check at the end of the day. My question for you to meet is, like, what's the problem that this solves? Like, what is, what is the problem that's costing the business money that this is going to solve? Are they wasting time on people spending time on things that don't matter? And how, how much can that limit this? And also how many factors can be fed into the machine? Because, like, sometimes there's stuff that's going on in the business or in the environment that, like, has to be factored in. And it's not, it's not just the priorities that are set in the beginning of the year. I think it's a really interesting idea, but I think, I think you're gonna have to. You're gonna have to show like a long track record of return on investment. Or it could be something that really lean into, you know, because it's basically, it's basically like an AI consulting company, right? You know, McKinsey, you know, what is it, the top four, the top five slalom? I'm making mistakes again. You know, you're basically saying, hire us and use our software instead of bringing in these other guys, which, I mean, can be valuable enough. Valuable. But you know, that's. It's going to be tricky because also, like, how much do you charge for that? You know, if it's an AI, you know, like the things that you're going to be asking, it could be, could be like prompt people very easily. So I guess, you know, what's, what's internal intellectual property? So you're industry agnostic. But it would appeal to companies with 500, 100 to 500 people who don't have large HR functions or the ability to hire consultants. An activity that takes 15 to 20 days should take a couple of days, in your opinion. You know, it's a very interesting idea. I would honestly go and talk to people in different companies and ask them. The thing that you always want to get clear on when you're starting a business is like, what is the problem that you're solving, right? So just those factors, like they don't have an HR department or they can't hire a consultant. Those aren't necessarily problems in of themselves. Right. So like, what is the thing that they're really struggling with? You know, they don't like not knowing who to hire. Is that actually a problem that people are having, like figuring out what roles they need to create and fill? You know, the other thing is, you know, like, how are you going to get everyone to trust? Right. Because technology only works so far as people act on acting on it. Right. But definitely go, go and do some market research on it. Go and see if people are having trouble with prioritization, figuring out what kinds of roles they need to open up and like what their, what their initiatives should be for each role. Absolutely. Go and ask about it. You know, in finding like what is your second question? In finding a co founder, I would ask like, what are your strengths? What are the things that you do really well? And like what do you kind of need buffing up on? Because that's what your co founder is going to come in and do and hello, Jason. Hello. Nick Gerst. Hello. Yes. Dinara Empire. Hello. And Jess. Welcome everyone. If you have any questions on your business, if you want me to vet your idea, then just pop your business idea in the chat and I will answer any question. Also if anyone has like a longer question, you want like a 10 minute little like business strategy and coaching live, then just go to the link in my bio for to or Instagram and click on it and submit your question. See here if you're watching, is the music volume good or does it need to be turned up or turned down? Appreciate you telling me hello. Places, making sure I'm not missing anything. Yeah. Hello Christopher, welcome. Any questions you have on your business or on your business idea, just pop them in the chat and I will answer them. If you don't know who I am, hi, I'm a business strategist and money mindset coach and I specialize in helping ADHD business owners who are providing a service service based business, how to get started and how to scale their businesses to multiple. Hello, welcome. I'm just having like low key Saturday knitting and answering idea questions. Now. When I first started my business I was convinced I was going to be a dating coach for men. I went to coach training and you know, they, they were saying just go and coach everyone. And I'm like, I come from sales and marketing. I know that that doesn't really work. And so I decided to pick a niche and because I lived in San Francisco and because dating was miserable in San Francisco, I decided that I was going to solve the problem of the men and So I decided I was going to be a dating coach for men. And I went out and I networked and I marketed and told everyone and their mother. And the funniest thing happened. I'd be out at these networking events or cocktail hours, whatever, and people would ask me, what do you do for work? And I'd say, oh, I'm a dating coach for men. And I didn't. I got one dude who wanted to work with me. One. One male client. Everyone else was a woman who was struggling to date like I was. And what was really funny is most of them all, but one actually didn't stick with the dating topic. They ended up. We ended up having to work on how they were showing up in their corporate jobs because how they were shitty at setting boundaries and how, like, they were taking on way too much was actually the thing that was getting in the way of them having a personal life. That was the thing. And so my idea of being a dating coach for men quickly evolved into being a dating coach for women, which barely made it off the ground because then I realized that I wasn't a dating coach for anyone. I was actually an executive coach. And so I started doing executive coaching and doing leadership trainings for different companies. And while I was building it, you know, like, I'd gotten a fair amount of dating clients, and then I had gotten a fair amount of leadership clients when I switched my niche over officially. And then all my friends from coaching school started asking, like, wait a minute, how'd you do that? Because they were all struggling to get paying clients. And I started showing them, like, because I took for granted the fact that I'd been in sales and marketing for so long. You know, I took for granted that I knew how to put together a package that I earn offer program that I, like, knew how to sell. I completely took that for granted. Hi, Edison. Welcome. And hi, Doxy lover. That's such a pretty name. I hope I'm pronouncing it correctly. Anyway, so I started showing my friends how I was getting clients and, you know, breaking it down into, like, a really simple system for them. And what was amazing is they all started, like, trying to pay me for it or they started referring, like, paying clients clients for that. So, you know, I was doing leadership coaching and really advertising that. And then I was getting all these referrals for business building coaching. And I honestly like the business building way more than leadership coaching. I loved my clients. Don't get me wrong, I've never taken a client well. I've had a couple Clients I, you know, ultimately didn't enjoy working with. But most of all, mostly I've adored most of my clients. But see, just there's something to start their business and be able to take all their expertise and turn it into actual money in their bank like that. I felt like I was teaching alchemy. It was really magical. So. And then the pandemic hit, and all my leadership clients had to cut their budget anyway, so there we go. So when you're trying to figure out what your business is like, I just want to remind you, your first choice often is going to be wrong. Your first choice is often, cannot be the right choice. It's not going to be the thing that you stick with. The universe likes to correct you, but you have to make a choice first. But don't be afraid to get it wrong first. You know you're gonna get it wrong. That is how it goes. Like, you didn't like most of us, the vast majority of us, Majority of us didn't end up marrying the first person we dated. Right. I mean, I say that I'm still not married, but anyway, we're still trying to figure that part out. But anyway, no, you're not gonna get a rap. And it doesn't mean anything about you. It doesn't mean that you're less than or not qualified enough or that there's something wrong with you that you can't seem to start a business. It just means that the idea was bad or it was the wrong one for you to start. And that's okay. It doesn't mean anything about you. And there are so many ways turn a bad idea into a good idea. So if you have a question on your business idea, then I want you to put it in the chat, and I will tell you exactly what I think. If it's a good idea or a bad idea. If I think it's a good idea, I will also tell you the first few steps I would take to get it launched. So far, we've had a question on a tech company that helps companies try to figure out, like, what their priorities are. You know, sometimes. Sometimes my answer will be, you're gonna have to go and do some research like it was for that question. Because, you know, you really have to see some. The market needs stuff like that. You know, there's absolute potential in that idea. But I also don't want to say, like, for sure it has legs, because it might not. You know, I'm not. I'm not the ideal client. Yeah. Any question you have about your Business, even if it's just something you're playing around with, not something you're, you know, necessarily 100% serious about starting. Hi, Erin. Hi. The Progressive. Hi. Long May. Hello. And Purple. Welcome. Just having a low key Saturday. Yeah. Any questions you have on your business idea. And if you're watching, can you tell me if the music volume. My first time doing music in the background. Oh, hello. What is it? The. The goat. It's the goat. Welcome. Hi. Thank you for the follow learning. So this is, I think my fifth live. I go live a lot on LinkedIn. It's so funny how the different platforms are so different. On LinkedIn, you can't see when people follow you, you can't see when people like your stuff. You don't see any of that for a third party. So thank you guys so much for joining and any questions you have on your business, please pop it in the chat and I will answer it. If you're just popping in now, I do have a link in my bio if you want to ask a more detailed question and you want to do a live 10 minute little deep dive session, you just want to go and submit your information and all that jazz. And the link for that is in my bio 10 minute TikTok strategy thing. Hi, Tiffany, welcome. Hello. If you have any questions, if you have a business idea that like you kind of had in the back of your mind, you're not sure if you should start it or not or if it has legs, then just pop it in the comments and I'm happy to give you my $0.02 on whether or not I think it has legs or if you should go with it or if you need like further research on it, which often is the case. Yeah, it's so funny. So when you go live on LinkedIn and on Facebook and all that stuff, which I'm doing right now too, they're getting, they're getting this also. But typically when you go live in those areas, it's more like a show, you know, you're planning on talking for a good, you know, 15, 30, 45 minutes and you're answering questions. But it's a lot less of the, like hanging out with you guys. You're kind of creating an ambiance, more of creating a show. I will probably end with my LinkedIn people. I don't have any more questions and I'm going to stick with my TikTok people. So have a great wine and I'll see you over on TikTok if you want to follow me there. All right.