This is Why Only Strong Ideas Can Survive
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First things first, entrepreneurship is all about ideas and ideas need to be strong and futuristic, based on innovation and have the capability to create a change in the life of the people. When I say only strong ideas I mean it. If you read the data figures 97 per cent of the start-ups fail in the long-term of seven years and this is a hard fact to digest.
In a book (Trajectory: Start-up to product/market fit) that I am reading currently author says that start-ups need great ideas and it is not good to spend 80 hours a week for years on a dumb-ass idea. So to make sure you have a workable plan make a business plan which gives the awe moment whenever somebody listens to it.
An idea is thinking which occurs in the mind of a person, again and again, it leads to a change in his or her behavioural inclination towards this and leads him/her to explore the idea and make an attempt to do something about it. Many ideas remain ideas only but many take a shape and become a product or a service in the meantime.
An idea is considered strong if it can lead to the creation of a strong business which remains in the market for longer and reaches a higher number of customers day in and day out. A strong idea is one which is not copied, easy to change, old, not innovative, or loved by none. Let’s discuss the major characteristics of a strong start-up idea.
It is found that great start-ups emerge in teams. It is difficult to handle a start-up without a team.
Sometimes entrepreneurs are so obsessed with their ideas that even if their ideas fail basic feasibility or idea validity check they will not leave it and keep working on them. This makes it difficult for that idea to survive long enough and finally leads to failure. This again leads to start-up failures and makes way for strong ideas only
Some ideas are way too difficult and making attempts becomes harder and harder every day.
This is also important to see that the idea built has a futuristic vision which does not fade away in the next few months or years. Start-up ideas without growth prospects are nothing. Speculative growth is the most vital component of considering start-up funding and support from the government. Without growth, start-ups become alienated and remain in zombie land. it is not easy to create a strong business without strong
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I love teaching entrepreneurship, blogging, personal finance and start-ups. I am also a blogger, skill share teacher, start-up mentor and hustler. I like to see world differently and want to do many things in this short span of one life.
Hey, if you are interested in knowing what ideas should you pursue for entrepreneurship read this article
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Hey folks, these ideator types will make you think, what type you are