I love your passion but think this is a pretty naive view of business. Sort of “hey everybody, let’s put on a show!” You’re basing an entrepreneurial strategy on luck. That may be OK if the entry barriers and development costs are low (let’s throw it out there and see what happens) but for many businesses who might actually make stuff, this is a short-sighted approach.

The number one reason for business failure is lack of demand for a product. Sometimes, we can’t know that until we do it, but often we can. Any new business should start with a consideration of competition, the customers, and at least a theory of how your significant point of differentiation will fit into that existing eco-system. You probably won’t get it exactly right, but why devote possibly years of your life to a new idea without doing a logical assessment of the market (including saturation) to give yourself the very best shot to succeed?

I don’t see many investors considering a startup that doesn’t have an idea of why they exist, how they do something better, and a possible path to profits based on the best market knowledge they can muster.

Keynote speaker, strategy consultant, Rutgers University marketing faculty and author of 9 books including KNOWN, Marketing Rebellion, and Cumulative Advantage.

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store