Is your idea business worthy?

October 22, 2014 Business Coaching

So you want to be the boss, create something out of nothing and really leave your trace in the world – in short, you want to start a business. And you even have an idea. Maybe a few ideas, if you’re creative like that. But you haven’t done much about it yet, besides wishing upon a star. And you’re not even sure you should do something – the economy is unstable, it is risky and who’s to say if your idea is even worth it.

Well I have news for you – the economy is always unstable, in everything we do there’s risk and your idea… Let’s discuss that for a bit.

1. Are you crazy in love with it? – you may consider the market, the competition, the level of difficulty, and this is all important. What you really need to consider though is are you freaking-stupid-crazy in love with your idea. Are you ready to do this night and day, day and night? Does it bring you pleasure? If you love what you do, you will overcome obstacles and you will have the power to deal with stress when sh*t hits the fan. Because it will, more than I am willing to admit. So do you LOVE it?

2. Would someone use it? – go around and ask your friends would they pay for something like that and how much. Ask them would they use it, if it was given out for free. Then make your friends ask their friends. This is called on-field research and the last step is to bring yourself so out of your comfort zone, that you can sit down with people you don’t know in a pub and kindly ask if you could have their opinion. On-field research is the best research – don’t just sit in front of your computer Google-ing stuff. Get out there and get your questions answered.

3. How much would it cost to make it happen? – while I was at my corporate job, I have repeatedly seen this very specific difference between entrepreneurial minded folks and all the rest. Entrepreneurs have an idea, they tell you how much they expect it would cost (even if they’re wrong) and how much they expect it would bring (even if they’re wrong). All the rest just have an idea, and it’s pretty, and it’s interesting, and it’s so very cool. And I’d tell them this – if you need Coca-Cola’s marketing budget to make it happen, you better have a freaking super secret and valuable formula in your hands. So what investment does your idea need and when do you see it returned?

4. Do you have the knowledge to make your idea happen? – because let’s be realistic – most of successful entrepreneurs have had a certain amount of experience working directly for or very closely with a business, similar to the one they want to create. If that’s you – great – odds are in your favor. If it’s not you, don’t be dis-encouraged, you can still make this work. It just means you will need a bit more time, a bit more energy and a bit more love for what you want to do. Just make a little research and find out more about it – there are classes and mentors for everything these days!

So, unstable economy and amounts of risk aside, if you are happy with the answers of the questions above, you should definitely do something about this idea of yours as soon as possible. And if you need a little help, we at Blizzard to a Breeze have your back!

 

 

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