Bill Morrow - What to do when people pooh-pooh
The Angels Den founder says people will always criticise business ideas.
By Bill Morrow
While some of these pooh-poohers are well-meaning folk who want
nothing but the best for you, others will shoot down a business
idea just for the fun of it.
The art of being a successful entrepreneur is to remain
focused and driven, even in the face of adversity.
Since there are many types of pooh-pooher in the world and
varying levels of merit to be conferred upon their opinions, a
short guide to managing the naysayers in your life may come in
handy as you pursue your entrepreneurial passions.
1. The casual pooh-pooher - The casual pooh-pooher
is a bit of an enigma. Because his or her opinions are often given
in throwaway comments, it can sometimes be difficult to determine
whether or not these criticisms of your business idea are of a
genuine nature or simply random nonsense to be ignored. Listen
carefully, or you might miss them-and just because the comment was
offered in a casual manner doesn't mean that it holds any less
weight. This type of critic might only be trying to be subtle or to
spare your feelings. Business ideas have a way of making themselves
very at home in our imaginations and all comments, even the casual
ones, should be considered for the helpful information that they
may contain.
2. The family, or friend, pooh-pooher - The family
member or friend who pooh-poohs your business idea presents a dual
dilemma. On the one hand, those who are close to you may offer
judgements and criticisms that are based more on their personal
knowledge of you than on the merits of your business idea. On the
other hand, these are the people who care about you and want the
best for you-therefore, if they honestly believe that a business
idea is not up to snuff, they are likely not to hesitate to offer
their opinion. In either case, criticisms that come from family or
friends should be filtered to let through only those that have
valid objections to your business idea and to discard those that
are based on preconceptions about you as an individual. Of course,
the one exception to this is when family and friends have a valid
point to make about your ability to run with your business
idea.
3. The serial pooh-pooher - No one is safe from the
naysaying antics of the serial pooh-pooher. This wily individual
lives to pooh-pooh every business idea that comes his or her way
and to put others, and their ideas, down at every opportunity.
While there may be a hidden gem somewhere in the midst of his or
her pessimistic ramblings, the bulk of these should be ignored.
4. The professional pooh-pooher - All would-be
entrepreneurs should take heed of the advice of a professional
pooh-pooher. If you are given an opinion by someone who understands
your sector, who has owned his or her own business, or who offers
his or her skills to those in your sector, that experience makes
the opinion worthy of your time and attention. Whether good or bad,
everything that comes from the professional pooh-pooher deserves
very careful consideration.
The art of being a successful entrepreneur is to remain focused
and driven, even in the face of adversity, while balancing your
steadfast determination with the ability to recognise valid
information encased in the opinions and wisdom of others. Opinions
regarding your business idea will never be lacking-whether they
come from your mum, a shareholder, or a professional in the field.
Becoming a successful entrepreneur will hinge, at least partially,
on your ability to consider each opinion, extract the useful
information while discarding the rubbish, and move forward with
your business idea to bring your dream to fruition.
If you are launching a new business and would like the opinion of
others on whether it is likely to be a success, there is no greater
validation than to gain the funding-and possibly the business
advice-of an Angel investor who is prepared to put his or her own
money on the line to back your business idea.
Bill Morrow is the founder of angel investors'
network Angels
Den.