Business ideas - Assessment
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Blog Archive » Embrace The Fact That Your Business Ideas Suck!
How is it possible to throw yourself into launching a business, when you already know that your business idea sucks? If ever there was situation rife with conflicts of interest in validating a business model, then being co-founders in a startup is a good example. The founders’ may get so committed to their vision that they can lose the ability to examine it from an objective perspective, and they may get caught up in groupthink. A startup is an experiment and the goal is to explore and discover a sustainable business model. This requires a change of orientation in the mind-state of the entrepreneur. The commitment and focus should not be to prove yourself right.
Your idea sucks, now go do it anyway
“My idea isn’t good enough yet” explained a friend who is thinking of starting his own company. He’s waiting for the idea to be completely fleshed out before taking the leap. Newsflash: Your idea probably sucks, and it doesn’t matter because your business will probably turn out to be something completely different. In 1998, a company received $4.8 million in funding to “beam money between Palm Pilots.”
Fewer than 8% of applicants get invited to Y Combinator headquarters for a nerve-fraying interview. Those who make it to Mountain View stand a 50% chance of being selected for YC's program and a crack at Silicon Valley glory. Each interview lasts only 10 minutes.
PG - "they've been thinking about it for months"
Cumulative Advantage: Why You Need A Bias Towards Action
The following is a guest post from Rob May. Rob is the founder and CEO of Backupify which provides secure, online backup for twitter, Facebook and GMail . [Note: I’m an angel investor in Backupify].Idea vs execution
On pursuing ideas -
Found some really good advice by Kevin Smith on how to fix life if it gets screwed up. Unfortunately, I visited his twitter page and came across another slurry of tweets which also seems to be some nice motivating words. F*, it isn't joy to read from downwards in twitter and thats exactly what I had to do. This guy tweets essays in 140-char parts and I just can't skip it because it's nice. I compiled it into a top-down readable piece (with some formatting) for everyone else to read. When you read a story about this deal happening or this film being announced, the wheels of whatever it is tend to turn v-e-r-y s-l-o-w-l-y.
Fab CEO to entrepreneurs: learn to break up with a bad idea
Design-centric commerce site Fab.com is going global in a big way. In a blog post today, the company announced that it is now available in 13 more European countries, bringing its worldwide total to 16 countries. “Design is a universal language. It’s a lifestyle,” the company said on its blog.
Business ideas - Assessment - Techniques