top ten geek business myths

UPDATE: I understand that I didn’t give enough credit to Ron. Ron made a great post and I’ve included the link at the end of this post. However, I want to emphasize that these are his myths, but I strongly agree. The bold titles are his, the comments are mine. If you want to read his comments, use the link.  Every week, I talk with some idiot that tells me that he doesn’t need to know how to sell because his invention is so awesome that it sells itself. Meanwhile, he’s out trying to find some fool to give him seed money to bring the idea to market. Here’s a list of my favorite myths.

Myth #1: A brilliant idea will make you rich.

Myth #2: If you build it they will come.

As far as I’m concerned, #1 & #2 really belong together. Your customer won’t know it’s brilliant nor come looking for it until someone helps them realize how big a problem it’s gonna fix.

Myth #4: What you think matters.

#4 might be my favorite. These pompous, over-educated, mis-fits actually think that if they say, “This is so.”, the world’s gonna listen.

Myth #6: What you know matters more than who you know.

I don’t know much, but I’m lucky enough to know a lot of experts in their field.

Myth #7: A Ph.D. means something.

No jokes about what P H D stands for, but seriously, that’s a lot of time in the classroom instead of in the real world.

Myth #8: I need $5 million to start my business

Get off your ass and sell something. Keep doing it until you’ve got your $5 million. Problem solved. Oh, I’m sorry. You can’t sell!

Myth #9: The idea is the most important part of my business plan.

Who wants the problem solved and how many of them are there?

Myth #10: Having no competition is a good thing.

Everybody is your competition. Disney post.

I probably shouldn’t have posted tonight. You can probably tell the kind of people that I’ve been talking to recently and I guess I’m tired of talking to people that believe these myths. If you’d like to read the original post, it’s here:

Don’t hate me for my attitude. I’m all better, now. Thank you, Ron.