Business Babies - Over-sensitive Entrepreneurs

Business ideas are like children. We created them (although creating a business is a lot less fun - did I just say that?). We nurture them. We protect them. We grow them. And then we kick 'em out at age 18 and hope they return the 18 years of service (joking).

Seriously, business ideas are very personal. It's something you've mulled over, changed, edited, updated, forumlated and re-formulated again. So when you discuss your plans and someone comes back with some criticism or comments that were not anticipated its hard not to get frustrated and say "you just don't get it" even though thats what you're thinking.

A few things:

1. Someone who doesn't get your idea based on your description is probably predicting the future response you'll get from vc's, angels, friends and family members. It doesn't necessarily mean your idea is bad. It does, however, mean that you need to work on your description or pitching of that idea. Save yourself some embarrassment. Before you scrap the concept and start a new, take a step back and look at how you articulate your idea. Maybe that's the only tweaking that's necessary.
2. Criticism isn't bad. It forces you to rethink your concept, add new features to further differentiate from the competition or scrap it and start anew. I had a friend consistently tell me, when I told her our newest idea that "isn't that just like MySpace" and I would get frustrated and be like "noooo! It's not MySpace at ALL". Until I realized that what was causing the confusion was not the idea itself, but some of the words I was using to articulate what we were doing (which further speaks to the power of MySpace).
3. Competition isn't bad. I know we've been saying this routinely in a couple of posts - partially because we believe it and partially because we're trying to remind ourselves. It isn't. It means that you're idea has viability. That folks will actually find it useful. And that there is TONS of room for improvement. Just because Company X is in the same space does not mean that your target market has taken a hit in any way, or that there isn't room for 2 or even 3 in the same arena (hello MySpace, Friendster, FaceBook, Bebo, Xanga). All it means is you need to further adjust your approach, your brand, your differentiation strategy and your goals.

The point: stop being a baby when it comes to your idea. It's personal, yes. And it's something you take a lot of pride in, yes. But criticism isn't bad. And everyone is NOT going to like it. Don't let that stop you from going forth. And don't let it stop you from telling people about your idea. Because an idea that hasn't been tested (on your friends, family and advisory team) is idea that hasn't been well thought out. Despite your overwhelming genius and superior intellect and creativity, there is GOING to be something you have OVERLOOKED that your not so intelligent friends will bring to light. Talk to the minions.

But do let it continue the process of changing and growing with your concept. I know it sounds corny, but seriously - the second you say "this is it, we've got the perfect idea" is the second you've just doomed your business to fail. It can NEVER be perfect. People change to quickly for it to be perfect. And the idea that you've the perfect concept leads to complacency, which means the competition will eat you for lunch (and won't need to buy you out to do so)!

...and they say women are emotional?! Pssssht. :)