Are you like a lot of aspiring entrepreneurs who are stuck in between too many business ideas or are you those who went all-in on an idea they thought would work, but it ended up being a huge bust in the market? Well, good news – You don’t have to go into business blindly.
In fact, the most successful entrepreneurs analyze and research enough until their ready to make an informed decision. According to Forbes, even a serial entrepreneur who’s founded multiple 7-figure companies, primarily in the world of software, Dane Maxwell, knows this all too well. Dane says, “The most dangerous word in business is to guess. The most important word is predictability.”
Sometimes our ideas or passions stall because the idea of getting from point A to point B can be overwhelming. Realistically, if you validate your idea beyond writing it on the back of a scrap of paper the process can seem a lot less daunting.
Follow these 5 steps when considering your next big dea:
Step 1. Find some problems
Step 2. Generate a List of Business Ideas
Step 3. What’s Your Unique Value Proposition (UVP) ?
Step 4. Build a Business Model Canvas
Step 5. Validate Your Business Ideas