Common business planning mistake #5 and exercise to solve it 

Lesson Details:

Video Transcription: Another common business planning mistake and a general mistake when people start their business is trying to be all things to all people because a lot of people will ask well I'd use it if it had this or I'm looking for this or I love if it did this but you have to identify who are going to be the people who would love your product the way you're conceptualizing it if there is indeed such a group you have to find that group this is your tribe and these are the people who are gonna be your initial first adopters and who are gonna recommend it and we're gonna give you the initial good reviews or whatever you need and fuel that growth this is gonna be your super users and if you try to add too many groups early it will lead to many mistakes like expensive complexity and this focusing and when you dis focus and you build three features instead of one guess what each feature gets only a third of the quality so less is more in the beginning and when I say expensive complexity expensive means in time and money if you're hiring people and if you take too long to launch you might never launch that's also sometimes a risk so you have to think about that and one thing I'll say is it's mentally difficult to cut potential clients it's really hard to say I'm not focusing on certain groups in the beginning I know I used to have that problem when I was first starting out I really had a hard time cutting groups and only focusing on a narrower set of people for me that was really hard but you don't have to let go of your big vision you can get to it later you can satisfy all the groups later you just have to grow into it it just can't be right away in the beginning you need to have small wins early and build that momentum and that's why you need to find your group who will love what you're doing not like but love what you're doing the perfect group that's a challenge for you so less but quality is more in the beginning.