Unfortunately, it happens. You know the story: an excited entrepreneur comes in full of passion and enthusiasm to share with you their game changing idea. Only, the idea falls flat. It isn’t good. In fact, the idea is down-right horrible. But, as a thoughtful, nice person what do you do? How do you tell an entrepreneur that their idea is bad, really bad.
The answer: you don’t tell them what you believe. Instead, you tell them to go validate the idea in the market. Go get 10 businesses to commit to paying for the product in advance of building anything. Don’t have a B2B product? No problem, put together an awesome video and do a Kickstarter campaign. It isn’t your responsibility to guess whether a business idea is good or bad on behalf of an entrepreneur. It is your responsibility to put the entrepreneur on the path to validate if their target audience will pay for it before the entrepreneur spends any money on it.
Friends don’t let friends spend money on unvalidated ideas. When an entrepreneur has a bad idea, tell them to go validate it without wasting valuable money on it.
What else? What are your thoughts on telling an entrepreneur you don’t like their idea?