What to do with a start-up idea?

So, you have got your multi-million dollar start up idea, what do you do now.

What next?

Ideal step would be start its feasibility study and prepare for implementation or creating a business plan, but there is a small crucial step in between which is very important.

The step is to validate whether you are suitable for this idea. Yes, you want to execute this idea but does this idea want to be with you, it is equally important.

What if you end up leaving this half way or give up. It would be de-motivating for you and might hamper your confidence in implementing any such idea in future.

So, how do you make sure you are meant to work on this idea, ask yourself below questions.

            1. Is this something I can do every day?

If the answer is an honest Yes, then probably this is your calling. It is the ideal thing the thing that could be called your passion. And when you do something that you love doing then success will follow.

            2. Have I been able to sell this idea to my family, friends.

The important part here is to understand if you can sell it to your family & friends that means they will be supportive of your idea. This support will help you tide the vagaries of business world.

            3. Have I already started seeing multiple opportunities through this idea?

Are you getting impatient not only with your idea but the numerous other growth opportunities that you are seeing. If yes, then this idea will definitely lead you to some profitable venture. There have been occasions when you start with one idea but end up creating a business of some other idea, the crux here is to look out for profitable opportunities.

           4. Would I venture into this idea even if I did not get paid for?

Don’t worry rarely would anyone venture into something that does not pay, but if you enjoy doing something then you might be satisfied with whatever you earn out of it. This would ensure that your business will have a purpose, a purpose of making you feel happy every day.

           5. Is this idea so exciting that nobody can talk me out of it?

Now, this is an important part and a “Definitely Yes” is required here. If on every challenge or snag you start getting thoughts of quitting it or considering it as an impossible idea to implement or generate revenues. Then you need to sit back and re-think, re-visit your initial discussions / excitements..

If possible keep a written record of the purpose for starting this, the energy that you have right now will keep motivating you later on.

If your answer to all the above questions is a ‘Yes’ then maybe you can call this as your ‘Ikigai’ and should pursue it. Even if it is not an Yes for all do not worry as the entrepreneurial journey will reverse a lot of answers, keep your purpose in black & white in front of you to ensure you stay on course.

Bon Voyage J