3 ms·
Ask yourself the following 4 questions: 1. Is it valuable? (How/why?) 2. Is it rare? 3. Is it easy for others to imitate it? 4. How are you going to exploit
by Quinzel 3y ago
Ask yourself the following 4 questions:
1. Is it valuable? (How/why?)
2. Is it rare?
3. Is it easy for others to imitate it?
4. How are you going to exploit your idea in such a way that you can have a competitive advantage over your competition?
Also though, fifth bonus question, if you spend time working on this idea, is that an opportunity wasted for you to spend that time pursuing a better idea? Just because it is going to be technologically straightforward and not too time consuming doesn’t mean it’s a good way to spend your time if you could spend your time doing something better.
- injb 3y agoGreat questions, thanks. They are all things I've been asking myself. 1: I think it's valuable, yes. 2: yes it's very rare as far as I can tell. 3 & 4, that's hard to answer but I think that every startup faces that problem. Yet, someone usually wins. 5: I don't have ideas I think are good very often, so until I think of a better one I'm not really sacrificing any big opportunities. And I kind of feel I'm more likely to discover better ideas if I start working on something. So you might have made me answer my own question by asking that!