Business

‘My business idea isn’t good enough’ – What’s stopping you?

Holding back because you think your startup idea won’t make the human race’s jaws drop collectively? We’re looking at the reasons why potential entrepreneurs might hesitate when starting or growing their business. 

Fair enough, neither the turkey and gravy flavoured fizzy pop nor jewellery for singletons can (as far as we know) be found at your local high street store. Both were ‘alternative’ business ideas that many would instantly dismiss in a heartbeat.

But is a good business idea all that clear? Who would’ve thought success could be found in a £20 nose job machine or ‘DoodieCalls’ animal poo removal service?

Beyond the £20 nose job machine

 

Ideas are ten-a-penny every day; and we’re sorry to say there’s a good chance at least one of the 7 billion people on earth has thought of it too.

But keep faith: the real difference between success and failure of the business isn’t the idea itself, but its execution. So search out good feedback by sharing your idea, no matter how original you believe it to be.

What you really need is advice from someone who has done or is planning what you do, says Bidawiz founder Ryan Himmel. Attend conferences, discuss with relevant people and find contacts on LinkedIn.

Research, test, evaluate

 

The Marketing Gym offers some helpful advice on market research to help you work out if it’s an idea worth pursuing. For instance, will the idea fulfil the needs of your target audience? This doesn’t mean asking friends and family – you need objectivity not bias, no matter how supportive it is. Make sure you test with the target market.

Finding a business idea

 

If you truly feel the idea just doesn’t work, or haven’t one at all, Chris Garden and Catherine Blackburn has some advice. They believe looking back at your experiences, identifying potential opportunities (like changes in the economic climate) and researching growth trends could inspire you.

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