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?
Advice
Hey, Good Job!
While stressing to get a project done, often times you may only focus on how to improve the negative, rather then reward the positive. Be it employees, team members, or customers, people want to be appreciated for their efforts.
How to Create and Grow Your Tribe
I recently listened to a Mixergy interview with Seth Godin about communities and tribes. Below are of a few great concepts that stood out.
Building a community involves creating a place where people can connect with one another. However, the community must also have a purpose, and you must communicate that core mission to your tribe. The tribe is simply a tactic to drive change. Our mission is to provide you with professional feedback, and the greater purpose is to ensure innovative ideas are executed successfully.
Is it Too Late for a Back-Up Plan?
Entrepreneurship, and life in general, is unpredictable and full of uncertainty. There is no way to fully guarantee that your decision is the right one. After weighing all the options, listing pros & cons, and deciding on a specific course of action, it is your responsibility to also formulate a back-up plan.
Who is Your Target Market?
“I have an idea for a mobile app, and I read that there are about 5 billion cell phones subscriptions. Even if I only get 10% of the market, I’ll be a millionaire!”
Have you ever heard something along those lines? We have.
Optimistic thinking is great, but realistic planning will get you from ‘keep on dreaming’ to ‘living the dream’. A realistic market share estimate involves market research, and assessments such as a competitive analysis. However, before in-depth research can be done you must identify a specific target market. Understanding your audience is key for creating and sustaining a successful venture.
Danielle Geva 