First things first. What do you do when an Idea hits you?
Ever wondered what it takes to become an entrepreneur? Idea? Opportunity? Money? Not really. 6 billion people on earth, everyone has problems to solve and have their own solutions. Some only think about it while some make efforts to actually solve it, not only for themselves but for all others. That’s the difference. If there is one word that can replace entrepreneurship it would be Action. An idea is the catalyst that springs you into action. Eagerness to solve problems is the basic element, without which there is no entrepreneur.
What separates you from the rest is your action. Mark my words, the very first thing you gotta do when you get an idea – is to note it down in a book/paper/diary. Then refine your idea, brainstorm and simplify until you can explain it to a 70 year old (kids are sharp these days, its hard to explain the elderly). Next find relevant keywords to the product/service/process, and google it. Look around if its already there, if yes, who is the top player, if no try to know why.
Answer this ” if no one in the market is doing it, what makes you think you can do it. What are your assumptions, what is that you have that the top guy in market doesnt? If at all you can do it, how long can you do it? how well can you do it(will it be the best) ? What are the basic requirements to make it happen.”
These are the basic answers you must know before you go out discussing and talking about your idea. There will be several questions thrown at you, some annoy you, some make you happy, but each question prepares you for the better pitch. So dont be annoyed if someone says ” you know what, its already there in market, someone is already doing it, this will not work”
All the best! You have taken the first step towards the bright future.
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