Most entrepreneurs have many great ideas, most of which are scalable. But most of the time these ideas do not make it to the mainstream. You may find yourself so engrossed in your business ideas that you have become biased. Should you be cautious, then? What defines a perfect business idea? In the video below, Jay Adelson, CEO of Revision3 discusses business ideas. He contends early on that there is no such thing as “perfect idea”.
Adelson does not believe in the concept of perfection. In everything you do, there has to be passion. As a creative person, you should wait for something that really inspires you. The first thing you have to consider, says Adelson, is to assess whether your idea is better than your current job. Adelson believes that starting something is probably better than continuing your job. Just take the leap but be aware of the long term implications.
You should know that building a business is a big commitment, involving many people like investors and employees. Creating a business is not just about you; it is about your vision. “It’s a whole basic family that you build around the execution of this vision,” says Adelson. Once you start have, you have to stay committed.
Choosing between different ideas can be difficult says Adelson. To make it easier, he suggests, you should sit down and try to answer these questions: What problems are you trying to solve? What effect will your product have on the market? How big is that market? How much is the potential revenue? Go through your ideas and narrow down on the one that has the most sense and easier to do.
Run time: 5:39 minutes
This video can help entrepreneurs who are trapped in their maze of business ideas. Click button to watch video.
What other things should you consider before you take the entrepreneurial leap? Share us your thoughts. Leave your comments below.