How to embrace failure in the process of transforming entrepreneurs 6-creative anti-chewing

Creative anti-chewing

It's one thing to take the time to do research for a less-than-good idea, but it's another matter to spend 33,280 hours of your life trying to achieve one of your lousy ideas. Dave Parker, co-founder and CEO of Bundled.com, claims that "first-time entrepreneurs get bogged down in the difficulty of proving the effectiveness of their ideas, and they are often trapped in trivial or inherently rotten ideas." In any case, because we are so close to our ideas as entrepreneurs, it is difficult to assess them objectively. He advises entrepreneurs to validate their ideas by carefully answering the following four questions:

• is this a large-scale business or just a home business?: "A typical home business is a service company (compared to a product company), and once you add new customers, you need to invest in new employees to deliver the product to your customers." In a large-scale business, it's a business you can make money for even if you fall asleep. Please figure out what kind of business you are in.

  Heaven Zhuhai Branch Rudder note : For lifestyle business, Collins ' English-Chinese dictionary gives the analysis that the boss of the kind of businesses is actually more concerned about how the business reflects his lifestyle, rather than how to make a lot of money. "a small business in which the owner was more anxious to pursue interests that reflect he or her lifestyle than to MAK e more than a comfortable living "

• Is the market big enough?: is the market you are competing for is a niche market or a mass market? For example, if your idea transforms into a company and then occupies the entire market, is your idea a 1 billion-worth idea? In another case, you can also build a very "successful" small business and occupy a specific niche market. This is closely related to how you define success and what your goals are.

  Heaven Zhuhai Branch rudder note : Niche refers to the market that a small audience or the Giants are unwilling or do not want to touch.

• who is your competitor? : If you blurt out that there is no competition at all, it will be a problem. Especially when your ideas are small or vague enough-your ideas are not well defined enough, so you may not be able to pinpoint your market clearly.

• is the idea worth spending 80 hours a week in the next 8 years? : 80 hours/week x 8 year = 33,280 hours! If you are really willing to spend so much time in it, then please look critically at your ideas right now until you have cobwebs your ideas, not when you have spent two years to come and see if your ideas are flawed.

---not to be continued

Original: http://fi.co/posts/13841

Heaven Zhuhai Branch Rudder
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How to embrace failure in the process of transforming entrepreneurs 6-creative anti-chewing