Tip 7 Don't Choose an Idea like a Clown!

With today's Tip for Choose an Idea I have to say something with full honesty. Do not Choose an Idea like a Clown! It never ceases to amaze me how cavalier people are when it comes to investigating their business idea. Never!

So many entrepreneurs put their pride, ego or need for speed before a solid investigation of their market and customer Pain Point.

If you think about it this is an INSANE way to choose an idea. A new venture is potentially the biggest financial commitment an individual will make in their whole life. When you choose an idea you are also taking the biggest risk of your life.

So why not do it properly.

Think about it when you buy a new car you probably investigate on the motor magazines and sites, maybe ask people who already have the car you want, check the best deal and certainly test drive it. Maybe even keep hold of it for the entire weekend. 

When you buy a house, you may fall in love with it straight away, but you would still have a survey done, in fact more than one type of survey, maybe you would get an expert or two to look at any potential work you may need to do to bring it up to standard. You would check out as many mortgage deals as you could, find out what local taxes are going to be, research local schools and amenities. 

So why wouldn't you do AT LEAST as much work when you Choose an Idea.

"Most entrepreneurs do!" I hear you protest. WELL I AM SORRY the statistics do not add up to that, they really don't. 42% of entrepreneurs failing in year one because nobody wants to buy their product or service!

So tough love today. When you need to Choose an Idea be aggressive in your market investigation. Be hungry for the truth. Don't be a clown.

Have a great day everyone 

Wishing you great judgement

Michael Allen Founder Choose an Idea