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Lost inside, looking for opinion how to execute one idea..

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JohnFuture

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Feb 4, 2018
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Hi guys!

I am a university graduate with IT background, currently working in the bank within IT department.

I have been postponing for idea execution for a long time.

I could call myself an idea fairy. Why? Because I have created many ideas and never executed them. Many of them are very old and some of them are successfully implemented already by someone else.

I know my flaw. I think I do. Perhaps it’s the knowledge and mindset.

Nevertheless, whatever I do in my life I do with maximum if I am on the correct path. I can’t choose one idea as inside I am afraid that the idea won’t succeed, and I will waste time (which obviously I did already).

That’s the problem with the idea, that scares me the most. Another reason why I postpone is that I want to have my life to work around my business not inside the business, meaning to have lifestyle I want and to be able do that I would have to automatize as much as I can. Some of the ideas aren’t meant to be for automatization. Don’t get me wrong, I am a hard worker and willing to sacrifice but at the same time have a life.

Thus, perhaps you guys could give me advice, if I should dive into market research to see if the idea will really solve someone’s problem and if there is a market gap for that? Maybe this would be a way how to find out if idea is feasible in the early stage?

Or perhaps take TOP5 ideas and execute (without any research) one by one to get the feedback?

I understand that there are many factors that would tell if idea is worth to be executed, but perhaps there are other important ‘preparation steps’ that I should apply to see at least 10% if it’s worth it?

I’m lost but desperately keen to change that.
 

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RazorCut

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I could call myself an idea fairy. Why? Because I have created many ideas and never executed them. Many of them are very old and some of them are successfully implemented already by someone else.
You know what they say about ideas, they are like ar*e holes. Everybody has one. That makes pretty much everyone an armchair entrepreneur.

I read not long back someone who said he had a great idea and wanted a programmer to partner up with him. What I read from between the lines was he would provide the idea and the programmer would do all the work (and they would split the profits 50/50).

Nevertheless, whatever I do in my life I do with maximum if I am on the correct path. I can’t choose one idea as inside I am afraid that the idea won’t succeed, and I will waste time (which obviously I did already).
How do you know you are on the correct path is you don't follow it for a while to see? NEVER be afraid of failure. Failure is just feedback. You need feedback in order to make course corrections. To figure out whether a project is viable or not, and whether if can be optimised and scaled successfully.

As for time, it passes anyway regardless of what you do. Not trying something and learning from those attempts during that period is a true waste of that precious time in my opinion.

Firstly I would suggest you list all your ideas and then rate them in order of how they align with the way you want to live your life if each became successful. By that I mean if you want freedom to pick up sticks and move whenever you choose then a business that requires a static location would rank low.

If you don't want lots of responsibility then a business that will end up employing 20-30 workers would rank low.

If you want to work hard building the business with the intention to float or sell it in 5 years time then a shopify store drop-shipping teddy bears wouldn't really make the grade either.

The last thing you want to do (and the one mistake I see all the time) is 2 or 3 years down the road realising you built a business that has trapped you into a way of life you hate. Too many hours earning too little money. No time for friends and family and having to cover for employees who let you down. Not remembering the last vacation you took or the last Saturday you didn't work at least 6 hours.

Once you work out which ideas potentially fit with the life you want to lead start doing your research to figure out which one has the most potential. Once that is decided then THAT is the ONE project you will put ALL your effort into. Carve that in stone and make a plan and start to execute.

DON'T for a moment second guess yourself or doubt your decision. If you have given yourself enough time to analyse everything up to that point then know that any doubts that occur afterwards is just your Amygdala (lizard brain) trying to get you to back off because it feels uncomfortable with change.

The Amygdala was great when your ancestors roamed the plains in search of food as it helped stop them becoming something else's meal but in this modern era it spends most of its time holding us back from becoming our best self and achieving our higher goals.

Knowing that those doubts are just part of an antiquated auto-response system that, for the most part, has outlived its usefulness gives you a true sense of freedom because you then recognise those doubts for what they are and why they occur so you can set them aside and carry on.
 
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JohnFuture

Contributor
Feb 4, 2018
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31
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Europe
RazorCut, you have very good points there.

Especially,
  • You know what they say about ideas, they are like ar*e holes. Everybody has one.
  • How do you know you are on the correct path is you don't follow it for a while to see?
  • NEVER be afraid of failure. Failure is just feedback
  • Once you work out which ideas potentially fit with the life you want to lead start doing your research to figure out which one has the most potential
Thank you for that!
 

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