Office Hours: "How do I tell a business from a wish?"

This is the question under half the questions I get asked. Here's the test I use — on students, on founders, and more than once on myself.

The question, roughly as it came in: "I love this idea, and I can't stop thinking about it. How do I know if it's actually a business?"

Quick Answer: a wish has passion and a story. A business has a repeatable transaction — someone who isn't your friend or family, paying you twice.

First, the principle. This is the same test I’ve used my whole career: what are you claiming, and does the evidence back it? A wish claims “people will want this” and offers enthusiasm as the proof. A business claims, “People pay for this,” and offers receipts. The tell is the second purchase. The first purchase can be curiosity, generosity, or your mother. The second purchase is value and a validation of your business model. And the customer has to be a stranger — friends buying your thing is love, not demand, and love does not scale.

Notice what’s NOT in the test: how hard you’ve worked, how beautiful the deck is, how big the market could be, how much you care. Passion is fuel — you will absolutely need it, because building anything real is a drain on every amount of energy you have. But passion is an input, not evidence. The most dangerous founders I’ve taught are the ones whose passion is so persuasive it convinces them. The idea deserves your enthusiasm. The claim deserves an audit.

Now the stories — one on each side.