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How To Pick Your Business Idea

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The Key Questions

Introduce your business concept – as clear and concisely as possible. Now, when you hear it yourself, ask if you’re interested.

You should be able to explain what you do, in less than 20 words.

What do you offer?

For who?

What you? What’s your unique selling proposition?

You must know how to position yourself.

How long do you think your company will be ‘in demand’, given all the fast changing technological innovations?

 

Internal Requirements

How much time do you need to spend on this a week?

Do you have the startup capital?

Do you have the energy?

What resources will be you need to acquire in the future, should time come to scale?

Get Started Quick

The earlier you begin testing your business idea, the closer you’ll be to finding your answers.

You only know what resources you’ll need, how much expenses you need to spend, and what the market response is, when you actually do it.

if it doesn’t work – know when to call it quits and move on to better things.

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