Decision: Go forward or not?
How to know if your idea is solid enough to take the risk of building it.
Does your business idea seem strong enough to commit to?
Are you willing to commit the needed time, money and energy for a year or so to build the business and give it a good shot?
How do you know if the business is worth building?
So you’ve done a lot of research, now it’s time to decide whether to go forward and actually BUILD your business…
Business Validation quiz we have here on the site. You’ve reviewed the results of your quiz closely to learn the strengths and weaknesses of your idea.
You’ve created a spreadsheet and run the numbers to see if the business looks like it will meet your needs financially.
You’ve completed a business plan and given it an honest review and tightened it up as best you can.
You’ve run through the Startup Checklist here to make sure you understand what you’re getting into.
You’ve done a lot of validating tests to see if the real world cares about your idea as much as you think.
You’ve carefully evaluated your chances in many different ways.
It’s time to decide: Do you move forward and build the business, or do you stop and find another idea? Perhaps revising your current idea is the answer?
I believe that building a business that works well and makes money is not very easy, so my advice is to only move ahead if most of your validating steps are encouraging.
You need to be willing to devote most of your time over the next year or two to your business – it’s a commitment
People often ask me how much time will they need to devote to working on their new business.
Honestly the answer is kind of simple: Close to all of it.
Bottom line is that any new business will need a ton of your attention, effort, and resources. If you somehow get really lucky and your business takes off on it’s own, you’re one of the lucky few. Most of the time, new founders are up at all hours, working nights, weekends, stealing time during the day as they can, and probably dreaming about solving the issues that need solving.
You’d be fooling yourself if you thought you could start a successful business with a few extra hours each week, sorry to drop that on you, but that’s really the truth. You need to be a bit obsessive.
I help people with their business questions and goals. I've helped hundreds and I can give you the guidance and mentoring you need to figure out every step. Why learn the hard lessons yourself, when you can consult with an expert who can save you valuable time and money?