Biz Concept #90 – It’s Not Too Late

by Byron on May 8, 2012

The Problem:

Too many people, and too many budding entrepreneurs, think that their idea is “too late.”  Someone else did something that’s the same or similar – it’s over!

The Business

The business is: Your Business Idea.  The one that you thought was too late.  The one you’re watching someone else build.

IT’S NOT TOO LATE!  Do it now.  Too often I hear people talk about how their idea isn’t one of a kind.  Someone else already started it.  Guess what, Coke and Pepsi have both managed to succeed.  So have about sixty different kinds of iced tea and 112 water bottlers.  (Just to stay in the drink aisle.)

The test is whether someone will give you money for what you’re selling.  And then, can you be world class at selling that thing.

Doableness

You’ve already fleshed this one out.  I can’t tell you if your idea is doable.  I’ll bet it is.

Deciding whether something is really hard or not doable is sometimes a tough call.  You don’t want to be the person who just couldn’t get going, who never had the courage to do their thing.  You also don’t want to quit right before the finish line.  On the other hand, you don’t want to pursue the wrong idea or pursue the wrong idea for too long.

For answers to these questions, I can only refer you to Seth Godin’s The Dip.  It is great insight into what ideas you should pursue and for how long – when to not start or give up and when to push through.

My Thoughts

Ultimately, what matters is WHY DO YOU WANT TO START THAT BUSINESS?  If your reasons are purely selfish, it will be tougher.  Not impossible, just tougher.  You must master fear and greed.  If your reason is to solve a problem, you are on the right track.

I know today’s post is different.  But it’s still very much a business idea.  In some ways, it’s the most clear business idea you’ve read, because it’s yours.  You’ve given your business idea far more thought than you given my best business ideas.  I haven’t abandoned my project.  I will write one business idea a day for a year because I’m in the business of learning about myself and trying a real world application of The Dip.

My gmail folder entitled EastimateFuture/BizConcepts still has 53 emails (from myself to myself) inside.  I’m just getting started.

 

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