Is your business a Vitamin or a Painkiller?

All my ideas are super cool. There are times in the day, I see myself standing next to Richard Branson on the podium at the next innovation conference somewhere in Necker Island. Suddenly, I wake up and smack myself to get back to reality. No Pina Coladas today.

When we entrepreneurs start any new business, the idea is to change the world or just to make a ton of money. We feel that the idea is THE Idea. But does our business idea pass the Vitamin vs. Painkiller test?

Vitamins are nice to have but not necessary. Painkillers, on the other hand, are required when it hurts. So do your potential customers need your product or service? Is your idea their paracetamol or their generic vitamin? If your business is the painkiller, you will be the prescription to solve their business problem. Since no one prescribes vitamins, you will have to scam your potential customers in fancy packaging to sell your tonic.

To test your next business idea simply get off your butt, stop searching reports on Google and meet real customers. Ask what their pain points are? Don’t assume anything. Solve the pain points and be the painkiller. Then you will have a “killer” business, and you will be raking in the some serious cash.

Back to the Branson thought, I now think what would Branson do if he were in my situation? Meet as many potential customers in a niche target market and solve their pain points and be THE painkiller. That is the simple definition of an Entrepreneur