It may be simply being struck by an opportunity, seeing where the business puck is headed, or a gaping void in the markets that you have a solution for. More often, startup ideas the actual start of the startup journey initiate from getting frustrated about inefficiencies or lack of good service and solutions in antiquated markets. It’s that friction that creates highly valuable business pearls.
Before rushing in at full speed, take a moment to think, and hone your idea and vision. Some of the most successful founders of billion-dollar companies that I know took several months out just to think and get clarity on their ideas first. Don’t get lost in this stage. Speed is important in the entrepreneur’s journey.
Yet, you have to make sure you are going in the right direction and there is real potential to create a big business. Research, talk to potential customers, find out what they will actually pay for, and begin networking with the investors, fundraising consultants and M&A experts who will help you go from zero to one. Layout your pitch deck. Even if you don’t plan to raise money, it will help you organize your thoughts and get objective.
infographic by: alejandrocremades.com