Find an idea worth pursuing
Okay, you’re still reading. Chances are that if you've gotten this far you are looking for an idea.
So, how do you find an idea worth pursuing?
Often, entrepreneurs will have more than just one idea, and often companies fail because the first initial idea is flawed.
It's very important to understand that you are your very first investor and you want to understand whether the idea actually has potential. The longer you procrastinate on something that may or may not work, the more emotionally attached you get.
Let's have a look at a few key drivers, some ideas and how you can source them:
Generally new ideas come from personal experience. This may be a frustration you've had in the past, or a process you came across that really annoyed you or you think you have a better way of solving an issue.
Many great ideas come from an invention and others from a new discovery. Also, new technology such as artificial intelligence, augmented reality, virtual reality and blockchain leads us to new ideas.
Your idea may come from industry changes or perhaps business model innovation. This is a small incremental change. Perhaps you see something existing, don't quite like how it's working and you change small little parts of it to make it better. We often see this in Fintech, marketing, sales and you come up with better processes and better ways to reach new customers and offer new value propositions.
Having more than just one idea could give you more chance to find the idea that will make you succeed. To find more ideas you can dig into your past experiences, recreate or invent/ discover something; you could also find an idea that changes the industry. No matter your concept, make sure you evaluate your idea