A great idea provides a solution to a problem. A great idea exploits an opportunity. A great idea has a profitable market. But what happens when your idea just isn’t enough?
Before approaching us for feedback on an idea for a startup, you should ask yourself two questions: “Would I be willing to do this full-time & long-term?” and “Would I be willing to do this for free?” If you’ve answered ‘Yes!’ to both questions, than you are on the right track. You should not feel confined to your interests, since willingness to learn can also make the difference. Passion is an important factor in starting a business, and long-term success depends on your commitment and interest in the industry. At the end of the day, you do better and stick with what you like.
Another important thing to note is that a great idea is only as good as its team. Make sure you have the right people on board, and don’t worry about keeping your idea a secret. Be very selective with the people you choose for your team, and find individuals with a variety of skill sets and the same passion for the idea. Share your vision with the whole team, as a better understanding will lead to better execution. Wasting time on hiding vital information will only hurt your business, and make your team feel like outsiders. Even if outsiders find out the secret sauce, execution is everything. Most people won’t even act on the information, and those who do will most likely fail since the true core and vision lies with the original founder.
We provide you with feedback to determine your idea’s viability, we even offer on-going consulting to help you along the way, but at the end of the day there is more to the equation than a great idea.
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