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!
1. As of today, what's your core competency and capability?
2. You need not be a truck driver to start a truck manufacturing company. Likewise, you need not learn anything and everything to convert your idea to prototype. I believe you know it isn't much challenging to get a prototype developed.
3. Entrepreneurship isn't just about quitting a job and starting with one of your own. The opportunity cost may last longer than you can anticipate. Are you geared up enough for that roller coaster ride?
4. Show me an entrepreneur who doesn't believes in the billion dollar potential of his/her idea. But, reality happens to be different from wishes. If wishes were Horses, beggars would ride. Have you got your idea and model around it validated? If not, then that should be your first step.
5. There's nothing called good or bad idea but, inadequate planning and poor execution. Have you given a thought to either of above?
6. If getting funded is at the top of your mind then I would say "Beware". It takes time for an idea or business to reach a scale where it develops momentum with investors. That period may last much longer. Have you planned your bootstrapping model?
There could be various such parameters to give a second thought. In entrepreneurship, you measure twice, cut once. Do feel free to reach out if I could be of any help.
Answered 9 years ago
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