• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation

3

Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
CommentaryEntrepreneurs

What to Do When Someone Criticizes Your Idea

By
Mitali Rakhit
Mitali Rakhit
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
By
Mitali Rakhit
Mitali Rakhit
and
Bethany Cianciolo
Bethany Cianciolo
Down Arrow Button Icon
February 24, 2016, 8:00 PM ET
Discussion in the office
BERLIN, GERMANY - AUGUST 07: Two men in business suits have a discussion on August 07, 2014 in Berlin, Germany. (Photo by Thomas Trutschel/Photothek via Getty Images)Photograph by Thomas Trutschel — Photothek via Getty Images
Add Fortune on Google for similar content.

The Entrepreneur Insiders network is an online community where the most thoughtful and influential people in America’s startup scene contribute answers to timely questions about entrepreneurship and careers. Today’s answer to the question “How do you come up with a new startup idea?” is written by Mitali Rakhit, founder and CEO of Globelist.

As I was pondering how to write an answer to this week’s question, I realized that my own startup idea journey was not linear enough to give exact, step-by-step recommendations. In fact, the current model has deviated so far from the initial idea—as is the case with most startups—that I’m not sure I could ever perfectly re-create that path again. That’s the point, though. There is no such thing as “perfect” in the world of startups. There is only “okay” and “better.” The sooner that founders get used to the idea of constant and iterative product improvement, the happier they will be. Here are some takeaways for early-stage founders:

Don’t be afraid to start over
There have been several times throughout my startup journey so far where my cofounder and I have had to throw away everything that we had spent months working on. I want to say that it was difficult, but it was easier than I thought it would be. At the end of the day, we wanted to have a company that was making money, and we didn’t mind starting over a million times (or more) if we thought that goal could eventually be achieved.

Take criticism with a grain of salt
There was a time when I went to a networking event and a young man criticized not only my startup idea, but even went so far as to insult my physicality. I was startled at the time and didn’t quite know how to react, but when the dust settled a few hours later, I realized that a few points he made had some merit behind them. This allowed me to pivot again and address a much larger market. Sometimes you need to put things into context to get a clearer vision of the bigger picture.

See also: 4 Steps to Come up With a Really Good Business Idea

Listen to your customers
My first huge pivot came after a visit to a trade show and fashion week in Singapore. I was speaking to several designers who were lukewarm about signing up for our product. One of them was kind enough to sit me down over a plate of Black Forest cake (lucky me!) and explain how what we were doing was okay, but what we could do post-pivot would create a product that every vendor at the event would be clamoring to sign up for. One year later, I’m happy to say that she was right, and I’m so glad I took her advice.

Do your research
Never underestimate the power of data and numbers to back up your ideas. Doing extensive background research on your market and understanding its dynamics will make you appear intelligent and confident to your customers, which is critical to earning their business. Every meeting I have with a brand usually leads to questions regarding how I picked this segment of the market and what drives my intuition behind pursuing the opportunity. Once I am able to provide a solid answer backed with figures and sound reasoning, it is much easier to close a contract. Doing research will also help build your confidence when times are tough, and might even help you identify new opportunities that you were previously unaware of.

 

Trust your gut
At the end of the day, there will always be doubters and naysayers. As a founder, it is primarily your responsibility to drive the business forward, even if the macroeconomic climate is not in your favor in the short term. The key here is to pay more attention to long-term market trends and plan for the future. You might have to take it slow to ramp up, but eventually you will find that you have laid out a solid foundation on which to expand the business in later stages. With customer feedback and data-driven insights to guide your decision-making processes, every iteration you make will only lead you closer to identifying the best idea for your startup.

Mitali Rakhit is the founder and CEO of Globelist, providing distribution and marketing in fashion and beauty. She is also the founder of The Brown Girl Boss, a resource for current and aspiring South Asian Female Entrepreneurs. She is currently based in New York but will be opening offices in Dubai and Singapore to build out her businesses in the GCC and Southeast Asia.

About the Authors
By Mitali Rakhit
See full bioRight Arrow Button Icon
By Bethany Cianciolo
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

t
CommentaryTariffs
Trump’s third tariff tantrum piles more dizzying distractions on top of ever-spiraling failures
By Jeffrey Sonnenfeld and Steven TianJuly 22, 2026
6 hours ago
orson
CommentaryOpenAI
We got California to intervene about OpenAI’s corporate switch from nonprofit status. It’s time for the SEC to come to the table
By Orson Aguilar and Catherine BracyJuly 22, 2026
7 hours ago
ls
Commentarybooks
Confessions of an award-winning AI memoirist — the ‘slop’ debate isn’t really about good writing, and you know it
By Luke StoffelJuly 22, 2026
8 hours ago
b
Commentarythe future of work
Manpower President: The future of work question that even CEOs can’t answer
By Becky FrankiewiczJuly 22, 2026
8 hours ago
k
Commentarypower
What I keep hearing from Fortune 500 CEOs: ‘We have no idea what we’re actually paying for power’
By Kiran BhatrajuJuly 21, 2026
1 day ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
1 day ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
24 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
1 day ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
1 day ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
2 days ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
4 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.