Every entrepreneurial or business venture starts with an idea. However, every successful venture starts with an idea that is viable enough to turn into a successful venture. Consequently, if you have an idea for a business, getting feedback on its viability as a profitable business idea is an excellent strategy before going ahead and starting your business based on that idea.

When getting feedback on your idea, you want the feedback to be critical. Many people are scared of criticism, but when it comes to developing an idea into a business, criticism is vital. But there is a difference between criticism that is constructive, and that which is destructive. Critical in this context means feedback that accurately and objectively points out the strengths and weaknesses of your idea. This is distinguished from destructively critical feedback that not only focuses exclusively on the weaknesses of your idea, but does it in a way that is discouraging, destructive and demotivating.

What is the best way to deal with critical feedback?

1. Accept all feedback in a positive manner, and don’t take it personally. The feedback is about your idea, and is not a reflection on you as a person.
2. Only focus on constructive feedback. Even if it is critical, you’re looking for constructive criticism, because this is the feedback that will help you to know where to improve on your idea without causing you to feel discouraged or negative.
3. Get as much information as possible about the feedback to ensure that you are absolutely clear on what the feedback means.

Bonus tips: How do you develop an idea into a viable AND profitable business?

1. Identify a relevant need, challenge or problem that your idea could potentially solve.
2. Learn about the kind of industry that your idea can be located in.
3. Innovate ways to apply your idea that will give you a unique selling position, and make you stand out from potential competitors.
4. Get as much feedback from your potential target market as possible to help you refine and adapt your idea until it becomes a viable idea for a business.