How Do You Know If You Have a Good Idea for a Business?

One Step…Frequently Overlooked

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 News about a useful article on how to evaluate new business ideas posted recently in the
AIIP forum  
http://tinyurl.com/k5ll4n8

Two stories came to mind.

An injured man fished out of the sea has no knowledge of his education, skills or abilities. He suffers from complete memory loss. Then without warning one day, someone tosses him a pistol. He catches the throw with lightning speed and immediately obeys a sharp command…

“Break it down!”

Within seconds, the weapon is disassembled and lying on the table in small pieces.
And the amnesiac, [Jason Bourne], stares in amazement at what he has just done…

And then there’s the real- life tale of candy maker, Clarence Crane, who came up with a new business idea for his company, but sold the formula for $2900.
The formula for Lifesavers.

Probably one of the costliest blunders ever made by a solo entrepreneur.

Crane had a good track record in the chocolate candy business, but marketing and manufacturing issues for the new product blindsided the businessman
And after a yearlong struggle with the idea, frustration triggered a poor decision.

So I would add that before evaluating any new idea, identify your blind side.
Focus solely on evaluating skills and abilities needed to make the particular idea take off…
if it could.

Break it down quickly and accurately…sketch-457719_1280 (1)

1. List the required daily activities
2. List skill set and aptitudes for each item on the list.

Which of the skills or abilities do you lack or tend not to be stronger in?
Will you want to use those skills and engage in the activities on your list?
Will you enjoy using those skills or talents?
Are there skills on the list that you need to learn or improve?

Dee Adams is the author of
Finding Your Niche Discover…

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