Friday, November 6, 2009

Do you have a naysayer in your life?

One of the hardest things about launching a new business is dealing with the naysayers. These are the people who tell you your idea is ridiculous, that you'll never succeed, and that you are wasting your time. For reasons that require serious psychoanalysis, the naysayer is usually someone who is close to you: a parent, a sibling, or even a spouse. I suppose that is because anyone else wouldn't have the guts to tell you your idea is stupid.

So let's think about how to turn these sour grapes into grape jelly and delve into why having naysayers around can be just as useful as having cheerleaders (please make sure you have some ... there are plenty of groups you can join to get them if you have none of your own!) Just like you need people around who are supportive of your endeavors, it is also good to have people who will question your assumptions and make sure you have really thought through your business plan and revenue model. Think of it as preparation for the worst case scenarios, your naysayers have probably thought of them before you will.

Ask this person why they think your plan is doomed to failure and see if they have some valid advice to give you about pitfalls ahead. If they say "No-one will buy your product", give them information on the research you have done on the market. Show them dollars and cents figures on your market size, the revenues of comparable companies and market research on trends that support your business thesis. If you don't have this information, then go out and get it before you move another inch!

If they say "you aren't qualified to launch a business", go for a walk down the street are into a grocery store and look at all the nail salons, hardware stores, boutiques, and brands you see on the shelves and ask yourself if you really believe that ALL those people who own those businesses are less qualified than you. If the answer is yes, maybe it's time to work on finishing high school. But, there's also a probability that you do have some things to learn about running a business successfully, so make sure you are taking the time to educate yourself on best practices in your industry and to learn from people in your field who have been successful. They are the best people to ask for help and will almost always provide any advice they can with a smile.

If your naysayer thinks you'll just never make any money and the whole thing is a waste of time, this is one of the best forms of naysaying you can be forced to deal with. It reminds me of the scene from that bomb "Land of the Lost" where Will Ferrell discovers a parallel universe and his first reaction is "Matt Lauer can suck it!" Well, it may sound crass, but nothing will light a fire under your behind like someone else telling you you CAN'T do something. I know it does for me. I can think of a million examples of small ideas that turned into big profits. The Boppy - "a round pillow for breastfeeding" - not exactly rocket science - $40 million in annual revenue. Daily Candy - "a newsletter about shopping and events" sold for $125 million. Vitamin Water - "kool aid with vitamins" sold for $4 billion.

Just like cheerleaders, naysayers are a vital tool to keeping you on the right track to building a successful business. So be grateful for your naysayer, if you only have one or two you are probably blessed with a fantastic business proposition.

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