Between every successful idea or startup there was always practice and more than failure, it is normal to hear about startups starting in the garage like Amazon.
The rules of the big numbers speech clear, more try more possibilities.
We have millions of ideas in our life, how is possible that anybody of then can work? We must think on this, quantity is better than quality.
Again this is correct, the key to having a better chance of having a successful project is having the ability to move forward when the idea doesn’t go as well as we expected.
The table to create a successful project should be this:
Found a niche à Found ad idea àimplement my idea in the minor amount of time à testing my idea à make my conclusion.
After this we can make a decision.
Sometimes the hardest thing is not to find new ideas, but let go of the ones that don’t work.
There isn’t a formula to evaluate a project, because even the worst project in appearance can prove to be a gold mine.
But exists practice methods that I personal use when I’m trying to evaluate how much can be relevant my idea.
Grab a piece of paper and write down these ten questions, rate every answer of questions with a mark from 0 to 10, at the end add up the numbers, and if a number below 50 came up, it would not seem like a winning project, between 50 and 70, it would be worth trying, while from 70 to 100, run to set up your startup!
- Does the market need what you are about to launch?
- what is the market and how is it, large or small?
- what is the potential price of the product or service?
- what is the cost of acquiring your product or service?
- What is the cost of value delivery?
- This project is different from the others?
- how long does it take to carry out your project?
- how much money do you need?
- what more can I sell for my product or service?
- Can this project last over time?
Answer the following questions and rate your answers and rate them based on how much you believe they are a strength for your startup