Potential co-founders say my idea is too difficult, should I give up?
My company is peer to peer lending but the tech co-founders I've been interviewing say my idea is too difficult. They seem to be scared of the bigger competitors. What should I do?
Without all the details of why they feel your goal is complicated it’s difficult to answer the question in full but…don’t allow someone(s) else is fearful of the outcome. That’s how they feel, not how you feel. And don’t allow them to get inside your head and mess with it.
The co-founders are absolutely entitled to have their own opinions and fears…don’t make them yours. If they’ve struck a nerve with you on some issue, work it out with a trusted friend/relative/mentor. Whenever I worked on a long-term project as a reporter and was having difficulty, I’d tell my dog the story. Sounds crazy, right? It worked. The led graph was always written within 10 minutes.
It might take you a little longer but it will be worth it. I don’t know who these people are to you, other than co-founders, but this may be a red flag that you aren’t meant to take this journey with them.
Don’t do anything until you’ve wrapped your head around it and know how you feel. And remind the co-founders, bigger isn’t always better. Good luck and keep us posted!
If you have presented the "Big Picture" they may be overwhelmed, and concerned about the logistics.
My suggestion would be to break it up into smaller stages, set achievable targets which plan for growth.
As with anything new, it needs to walk before it runs.
It may also be better to only discuss the first 1 or 2 stages. you may find that with growth two or three things will happen.
1) The tech side follows.
2) your growth is beyond their capabilities.
3) Technology will catch up with your ideas.
You may also want to say " I'm not concerned about the competition, in fact if we become a real pain in their butt, they may just call by with a big cheque, so that we can move on to something else.
Good luck with the development.
Perhaps, your idea needs to be broken down into parts. Agreeing with Mr. Hong.
If it was easy everyone would be doing it.
Find new partners.
I might be interested!!!
If it was easy then everyone would have done it already! Everyone has probably some sort of competitor regardless of the industry they are in! These potential co-founders dont sound like they are people you want to be in business with anyhow.
Give up on the co founder not the idea. You will always have competition.
Think of it like the student who says the assignments are too hard. They flunk out unless you have a no fail policy.
In business you do not need to carry a failure.
To thy own self be true.
Actually doing the difficult stuff is a way to get your business started. Then as you continue on the small things that make it difficult will come to light and you will have the opportunity to make meaningful corrections. Many doubters are just trying to maintain the status quo. If you are the boss then go ahead and make your decision or tell the co-founders to show you a better way.
Kenneth Lash, MBA
Its all about your self-belief Sandra. If you think, why can't it be implemented. You are the only one to evaluate it and re-think .
Firstly bring in small changes ,wait and watch as then how things progresses . If that also does not work then change the contents etc.Do not give up as the things will pick up from there.All the best.