Business coach? | Imamother

amother

Wed, May 25 2022, 3:31 pm

I have an idea for a business that I want to start. It is not a very expensive start-up. I would hope it would cost less than $2000 for my start up fees. I've done a lot of research into the actual fees and things that will need to be done to get it going and I believe this number is accurate. I am hoping to recoup that money within 6 months or so (I'm realistic that any business will take time to get off the ground).

My problem is that even though I "think" it's a great business and people will want to utilize it, I have no way of knowing. I also know how much I "think" they will pay but I may be wrong about that too. Before I spend hours and money getting it off the ground, who can I speak to to get some information? I was told to find a business coach but I am wondering how someone like this can give me clear answers. He/she doesn't know my exact niche market and the ins and outs of my customer needs.

bigbird

Wed, May 25 2022, 3:39 pm

Is there a minimum viable product you can start with to test it out at minimal cost? Because really there is no better proof than putting it out there, much more reliable than going off the word of a business coach.

With some businesses you can even sell the product before it’s available and that’s a great way to see market interest.

amother

Celeste

Wed, Mar 15 2023, 4:02 pm

amother OP wrote:

I have the same question as you OP and wondering what ever happened? Did you end up starting the business? Did you speak to a business coach (if yes, can you recommend them?) Thanks

amother

Brunette

Wed, Mar 15 2023, 4:40 pm

In this case, better to run a focus group or product-market fit interviews than just talk to a coach who, like you said, can't know this information, no matter how good they are at business.

There are coaches who specialize in product-market fit and can help you get candidates or structure your interviews, but they're not your run of the mill business coach.

amother

Celeste

Wed, Mar 15 2023, 7:18 pm

amother Brunette wrote:

Thanks. I hear that. Just a bit unsure about that idea bec how do I know no one will try to copy the idea?

amother

Wed, Mar 15 2023, 10:08 pm

I found this organization somewhat helpful. They put me in touch with a frum business consultant who spoke to me for a long time and asked some really good questions and gave great feedback about my business plan.
https://tjenetwork.com/