Which Business? Pt 2

This post was written by Tony-Online on February 18, 2010
Posted Under: Uncategorized

In the last blog, I started assembling a checklist of questions that you could use to vet all of your ideas for setting up a business. Let’s continue with some more questions today.

o    “Do I have something of value to provide to people?”*5
o    “Do I care about people enough?”*6
o    “Can I get started without investing a lot of money?”*7
o    “Am I getting carried away with my own great idea?”*8

*5-Many businesses on the internet sell products and services that turn out to be pretty disappointing. What the buyer receives may range from a lengthy ebook (a book that is only available as a digital download) containing very little good content to an incomplete course that states what the buyer should be doing but provides little or no guidance on how to do.

*6-If you care about people, you put their welfare first. You want to provide them with a good product and a good experience. You want to see your clients succeed and to say good things about you to others (their families and friends). You want to provide an experience that keeps clients over the long term because a happy client will buy from you again.

*7-If you ever watch the Dragons on TV (a program where entrepreneurs pitch to a panel of wealthy investors on investing money in their idea in return for part ownership) you will know that people spend incredible amounts of their money and their family’s money chasing a “great idea”. They have become consumed with the belief that they have a “sure fire” idea that cannot fail and have done nothing to test the market and make certain that there is a strong likelihood their idea can be successful, pay back all the money they’ve invested, and make money.

*8-This isn’t going to happen to you because you will vet (examine) all of your ideas using your checklist, all of your ideas, right? As long as you are willing to look at all ideas objectively, no matter how exciting the one you think might be really big, it will be very difficult for you to ignore the results from your review.

We’ll continue to build a sample checklist tomorrow.

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