Still waiting for a million dollar idea to START?
Updated: Nov 19, 2019
I have come across thousands of potential entrepreneurs stuck at the idea generation stage waiting for that one big million dollar idea to strike their mind to start a business. Hence, let me make this clear to you ...
A GOOD BUSINESS IDEA IS NEVER ENOUGH TO SUCCEED!
Then why get stuck there at all?
Several businesses have been set up from great ideas, only to collapse sooner or later. Why so?
1. Good ideas aren’t necessarily unique.
Once your "great idea" has developed into a full business, a separate competitor may have already emerged to threaten your business.
2. Circumstances change. Business environment is way too dynamic that by the time you launch your business with that one great idea you had always been working on, consumers would have already had their fill or moved onto another trend and will fail to have the same impact.
3. “On paper” doesn’t always translate to real life. Your idea may seem like it will really work. But real life doesn’t always work the way it “should” on paper. Your customers may not be as interested as they seemed during your market research. Your cost basis may not be as tight and predictable as when you put your plan together. Those unpredictable factors will always be a danger, even to the best of ideas.
4. Execution is as important as planning. Remember that a good business idea is only as good as the people who are able to execute it.
So when a "great idea" doesn't guarantee your business success in any way, then why get stuck at that? No matter how small / big ; Regular/unique your business idea is, what makes or breaks it is how you implement it ; It is how well you sail through the business journey...!