You have an idea. Not just any idea, but an idea you believe has not yet been thought of before. One that could help others, one that could stimulate businesses, or one that could truly contribute to the betterment of all society. Whatever that idea may be, looking to start your start up can be an exciting, fulfilling, and stimulating time. But with all of these positives factors, of course, there comes many trials, tribulations, and lots that need deep consideration. To help you in the first steps of the process, we put together 3 things you should consider before starting your start up:
Ideas that stem from personal problems are usually the most successful. Why? Because you have identified a genuine, organic problem, that probably everyone has faced one time or another. Meaning- there will be a need for it. So whatever your idea is, ask yourself, is it a personal problem? And if it is, chances are the solution you come up with will be of great use to you and everyone else, allowing your start up to gain instant value.
By continuously asking yourself questions you don’t have the exact answers to, you will be able to better gage what it is you need to successfully carry out the planning of your start up. Here are some of the many questions you will have to ask yourself in the beginning, and along the way:
• What are the unique selling points or (USP’s) of your start up?
• How big is the current market size for your idea?
• Is this a big enough problem? Do you know a ball park of how many people actually could use a solution to this?
• What is your competition? Who are they? How many?
• Do you have the resources to solve this problem? What else do you need to solve it?
A very common mistake among many entrepreneurs, is this misunderstood need to strive for perfection in order to be successful. While we are not discouraging the will to want to be the best of the best, we are suggesting that when it comes to starting your start up, it is more efficient to strive for innovation, rather than perfection. The foundation of your business ideas should not be to be the best of the best, but, to be an inventive idea that can truly make a difference. Because focusing on minute details in order to strive for perfection from the get go may only delay the process of what could be a literal ‘game changing’ business.
