What happens when a person has more than two business ideas, wants to start a business soon but is not sure which idea to go with first?
There is a high likelihood they’ll spend a lot of time on all these ideas and delay opening their doors to their first customer.
Let’s take a minute and look at some of the things any person in this situation is likely to go through.
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After that, we can look at what you can do to move forward, build a business and not just have ideas that do nothing but sit in your head and force your brain to think more than it should.
Let’s start with the first one:
The tendency to want to focus on all the ideas at the same time
Table of Contents
- 1 The tendency to want to focus on all the ideas at the same time
- 2 Not favouring a business idea because you think it doesn’t have that much potential
- 3 What can you do then?
This actually happens because ideas sometimes, whether similar or different, exhibit the same potential.
And things get really tough when you know you can get the money to implement all the different ideas you have.
If you had to create a score sheet – have a list of considerations to help you determine which idea to go with first, you may end up with two ideas or more that end up putting you in some kind of a dilemma.
Choosing becomes hard and when that happens time gets wasted. Procrastination sets in.
Suppose you pursue two ideas or three at the same time, you’ll have to divide your waking hours on all three.
If only one leads to overwhelm, the remaining one or two will suffer neglect.
It will be a case where you put most of your energy on one idea then when feeling that you neglect the others, switch what you focus on, only to run back to your number one idea.
A whole year can go by without any real growth in one or all the ideas you chose to turn into real businesses.
Crazy how we sometimes think we can get two birds with one stone, only to loose the stone and watch the birds fly away. I’ve lost some good websites this way.
Not favouring a business idea because you think it doesn’t have that much potential
How many are guilty of this?
People who when evaluating the viability of their ideas put so much emphasis on the amount of money their idea can attract? So many. And yet this happens every single day.
What can you do then?
What can you do when you have difficulty choosing which idea to focus on first?
Choose, first, the idea that will give you the chance to learn…
…new skills and inculcate habits that you will need every time you turn a new idea into a business, now and in the future.
The skills and habits can include, among many others, accountability, perseverance, hard work, confidence, negotiating deals, handling criticism, rising early, outreach etc.
See how your ideas can compliment each other
The reason for doing this is that you can use one idea to give another a chance at the marketplace.
Think about those who venture into WordPress web design as a business then add web hosting into their portfolio, or someone who starts a cyber café and also adds a class in another room, offering courses on word processing, introduction to the internet, internet research etc.
Ask yourself which idea is ready for quick implementation
There are countless stories of entrepreneurs who partly attribute their reason for success to coming up with an idea and turning it into a business at the right time .
They attribute a percentage of their business success to being at the right place at the right time – and taking massive action.
If you look around you, at the niche you want to be a part of, and know that the market may respond well to your new business, this may not be the time to spend more time keeping the idea in your head.
You never know your right time and right place may be waiting for you…now.
So, look again at every idea you have, the pains they are focused on and what the people buying from you will get when money exchanges hands…read this post again then make a decision to start.
Further reading: 10 Things to Look at if You Are Thinking of Starting a Business (click this link and subscribe via email to download the ebook now).
Want to share your thoughts or ask a question? Do so in the comments section below.