Based on my own experience and feedback from friends, every investor is approached by at least ten entrepreneurs with a “hot idea” for a new business, for every one who has a real “plan” for a new business. That’s why I often say that ideas are worth nothing, until they are put in the context of a business plan and real people committed to executing the plan.
Mind the Gap Between a Good Idea and Good Business
Posted by martinzwilling under StartupsFrom http://blog.startupprofessionals.com 4368 days ago
Who Voted for this Story
Subscribe
“You are most welcome Gaurav....”
“transition plan is the first thing to start. Thank for sharing this...”
“I have been using Picuki, and other tools. But, I was not aware about IG...”
“I am not into Google Sites. I still and always prefer WordPress. Easy to...”
“Semrush is changing. And, I am following the path....”
Comments
4367 days ago
I think there are some great points here. One thing I'd add. I'd suggest there are some ideas that you may want to test on a very simple scale to determine whether a business model is workable. I think financial projections are fine, but they should be based on something real. Is there a way you can very simply test a product or service to determine whether there is actually a market for it? Offer a very limited group a stripped down version of the service to see whether any customers will actually pay for it. Or create a simple version of a Website or other product to see if there is any customer interest.