The good thing about ideas is that we never run out of them. If you're an opportunistic person, you will find that your biggest challenge is figuring out which of your many ideas are worthy of some investment in time and maybe money. I've found that answering three quick questions will help you make that decision. Here they are:
- How will my idea change the world?
- Why should I (we) be the one to do this?
- Why is this the right time to do this?
The first question is the toughest and it's also the one that many would-be entrepreneurs avoid answering. I can't tell you how many times someone has come to me with the story that their idea is unique and no one else is doing it--they literally have no competition, and the world will never be the same as a result of their new venture. Well, that's a big red flag if I've ever seen one. In about five seconds I can Google some key words related to what they've told me and come up with a page full of sites doing just what this person said no one is doing. Do you think that might be an eye-opening experience? And wouldn't you think they'd be pleased that their eyes were opened? Wrong! They actually preferred their blissful ignorance. Don't fall into that trap. Take off the blinders; answer that first question. Does your business really bring something new and valuable to the market? Then, make sure you are the right person to do this because of your experience, expertise, and connections, and that the resources you need to do it are available now. If all systems are go, you're in a great position to do the real work of start-up creation with a lot more confidence.
