This is not a naive, general question, at least I hope it's not. I've been passionate about entrepreneurship, especially products and services, since almost 5 years. I have been thinking about different ideas that ranged from web apps to mobile applications and SaaS ideas. I guess all of these ideas sounded great to me and some of my friends, but I have never actually worked on them. I'd rather do something else, like learning general business skills or working on side projects for the purpose of gaining experience and promoting my personal brand. Last week, I've been offered a job. It will be a daunting one but it will pay off well. I will relocate from my hometown and work in a friendly environments. I said yes, and decided to relocate and organize my time between my regular job and the side online projects I'm working on. Until today. I was randomly daydreaming and checking the ceiling, when it suddenly hit me: a million-dollar idea. No, actually a billion-dollar idea. This doesn't mean I'm 100% sure of its success, but I was so excited about it to the extent that: 1) It gave me goosebumps. 2) It made me visualize the startup's mission and impact on people. 3) Possibility of my potential product's failure scared me, but it made me very determined to pursue it and see for myself. 4) It made me smile. So, in order to begin working on it, I have to learn web development and develop a prototype, as well as gaining advanced business knowledge and experience. Unfortunately, I won't be able to work on my idea and stick to a 9 to 5 job. I'm afraid I'll lose the vision I have when time passes by without working on it. I'm confused. Can you awesome people help me find the right person to consult and gain solid advice from? I trust Clarity!
The idea is a very small fraction of what it takes to earn the first million. Certainly billion. What actually matters is your ability to *execute*.
Entrepreneurship means "having the talent of translating opportunities into money". Or, as Alexis Ohanian of Reddit said, "entrepreneur is just French for 'has ideas, does them'."
As much as it may seem that transitioning off your 9-to-5 is the biggest hurdle, it's not. If you can't "get out of the gate" then you're also not ready to deal with the real challenges of business, like "competition that has 1,000x your funding" or "suppliers that jerk you around" or "customers who steal your intellectual property".
It's easy to have a "billion dollar idea". I'd like to mine gold off of asteroids; I'm sure that would be worth billions. I'd also like to invest in Arctic real estate that will become coastal vacation property after fifty more years of warming. And, of course, to make a new social network that everyone loves. But saying these things is very very different from accomplishing them.
Prove your concept by first taking a small step, such as making the first dollar. (Maybe try Noah Kagan's course at http://www.appsumo.com/how-make-your-first-dollar-open/). If you can't figure out a way to "make it go" without a giant investment, then you're kidding yourself about your ability to execute the business. If you *can* figure out a way to get a toehold, then by all means do it now!
Happy to advise further, feel free to contact me for a call.
Answered 9 years ago
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