So, this question is for those who have been contemplating multiple business ideas before deciding on getting started with one. How did you finally know when to make the jump from idea to action?
I believe this will help a lot of people (like me) who have alway wanted to start a business, but feel a bit overwhelmed with so many ideas and opportunities out there.
It would be great to hear about concrete personal experiences, there is a lot of generic advice out there already.
How did you get out of analysis paralysis around your business ideas?
byu/etoilepensive inEntrepreneur
Posted by etoilepensive
7 Comments
Don’t make the right decision, make the decision right. You’ll get a lot further a lot faster if you accept that being wrong is part of the process and not something you can avoid.
When you have the resource to start one, just do it. Slowly connect the other ideas into it to build better ecosystem and value to the customer. Good luck.
It was easy for me. I didn’t have any other money coming in so diving in head first was not a problem. This was now 13 years ago but I left my corporate job and traveled for a few months and lived off of savings. When I got back it was time to get rolling.
It’s about risk management. I created a situation where I could take risks. Specifically I saved enough to get a reliable return that would replace an income suitable to my middle class lifestyle.. and I paid off my mortgage. In that situation.. I could take a ton of risks.
I’d weigh in on the ideas you have the most passion about and that has a market need
The mistake is not starting sooner to see if you have a viable idea. The regret of wondering what if will save you sometime of over analyzing in this scenario.
Take further action on the top 2 or 3. Each will take you on a path that you never anticipated. From there you can cull.