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Lots of Ideas!What to do?

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kkompoti

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After the book and the forum came to my life something strange happened. I find myself all the time asking this question: "IS THIS A NEED?" .Then i ask a second question to myself: "What are you going to do about it?". And then something like this happens:

As i was drinking my coffee in my house i had an idea of a mobile app. Not sure why this came to my mind but it happenned. Then i started searching about it. (I do not know anything about coding or anything else software related!). I started doing some research and found out that no one else had this idea.
did the math:

the entry is kind of difficult. need to pay money to outsource or learn php.
the scale is easy as it is going to serve 2 million people as a start.
the control is something i know nothing about. for example i do not know what a server does. and i realise that in order to have control i must own a server and have the app in there.
the time is something i think at first will require most of my time but then i can have a manager and employees.

I wrote a page for what functions i need my app to have. (It creates a whole new market for advertising for companies)(about 14000 companies of this type in my country)
I found a great name for the app, searched it if the domains are not taken.
I went online and made a free logo.
I researched it with my friends and family and most of them said they would use it.
I started emailing companies from my country, from the usa and from india and asked about the app.
I got prices for the development of the app. india:6500 , mycountry: 65000, usa: we have other projects right now sorry!
I told a friend to back me up as a partner, (i put the idea and the work to create it , he puts the large fees for entity and employees , initial investment 50-50).Stopped.

Then some days later, after reading about books in here, i said to myself. you write all the time in your job why don't you write a book and maybe find a new cash flow there.Started research, wrote about 2500 words. Stopped. (Didn't like it!)

Then another idea for an app got to my head. Did some research.Stopped.

I also have my slowlane job.
I also have 2 projects currently running,that give something back.
One with capital investment around 5000 and another with 400.

The above happened in about a month.

Now:

Question n.1: What is happening to me?

Question n.2: How can i stop and focus on what must be done for the projects allready running?

Question n.3: Is anyone else having these symptoms? How do you manage it?
 

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Mr.Chaos

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Question n.1: What is happening to me? You're not playing the long game

Question n.2: How can i stop and focus on what must be done for the projects already running? Commit

Question n.3: Is anyone else having these symptoms? How do you manage it?. We all at one point do. You have to learn to see things through. Resiliency. Feel the process, enjoy the process, be the process.
 

Empires

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Question n.1: What is happening to me?

Question n.2: How can i stop and focus on what must be done for the projects allready running?

Question n.3: Is anyone else having these symptoms? How do you manage it?
1: You're idea hopping, something many do at the start.

2: Something I learned from my first business is keep it simple. You don't have to start the next big app or website. Get a simple idea, get it running in a few weeks, and start selling. That advice would have saved me a lot of time and money. You just need to commit to one idea.

3:Once you actually start you'll never look back. New ideas won't phase you.
 

Nils Löwe

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Question n.3: Is anyone else having these symptoms? How do you manage it?
Most of us have. Once you commit to a project, it stops.

See your idea hopping as a kind of procrastination. Nicholas Taleb wrote something very interesting about procrastination in the book "Antifragile". He says that procrastination is a way your subconsciousness tells you that you are not ready yet. In the case of your first idea (the app) it might be true. Building an app without knowledge about building apps is a hard way.
 

eTox

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1: You're idea hopping, something many do at the start.

2: Something I learned from my first business is keep it simple. You don't have to start the next big app or website. Get a simple idea, get it running in a few weeks, and start selling. That advice would have saved me a lot of time and money. You just need to commit to one idea.

3:Once you actually start you'll never look back. New ideas won't phase you.
Ohhh, I am so much in the same situation as OP.

This answer nails it home.

Thank you.

+100 Rep sent.
 

Scot

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@kkompoti We've talked about your app idea, its a good one. Its solid. Stick with it and make it happen. Like @Empires said, keep it simple. You don't have to launch with full features. Stick to a lean startup model, because the last thing you want to do is sink thousands of $$$ on an app with what you think is the full span of features, only to find out your customers don't give a damn about half of them and they actually want the app to do xyz instead.
 

jesset17

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I am in the same boat as the OP. Do I commit to idea 1 or 2, business 1 or 2...

I think anyone in this position should heed the advice MJ gives and use the tools he provides. In this case the Weighted Average Decision Matrix (WADM). I noticed he even created a website for any of those who don't like using the ol' pen and paper method.

Got a Tough Choice? HelpMyDecision.com Helps You Make Better Decisions!

I will be going through the WADM myself to help determine what path I want to commit to.
 

devine

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"Lots of ideas" is when you can execute them.
Idea is when you actually have an idea on how to make it live and the only thing that separates you from actually doing it is time. Otherwise it's just words, it's nothing.

Recently I watched a group of guys who stole my idea trying to execute it. After a month they officially announced that they give up.
I had an idea, they had just thoughts, nothing but their imagination, words on paper without actual substance behind them.

Just start. There is no point in talking about idea if there is 0% execution. Give it a try.
 

Andy Black

Dad, husband, entrepreneur.
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Pick something simple that will take *you* less than 7 days to make a sale and just start.

If it's going to take more than 7 days, then it's too complicated.

It doesn't matter if you set off in the wrong direction. You can always change direction - IF you're moving.

My "hack" is to help people. See the Mother Teresa quote in my signature. See the Radio Interview linked to in my signature.

Pick a direction. Get started. Keep going.
 

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GuestUser153

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Mar 29, 2014
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"Lots of ideas" is when you can execute them.
Idea is when you actually have an idea on how to make it live and the only thing that separates you from actually doing it is time. Otherwise it's just words, it's nothing.

Recently I watched a group of guys who stole my idea trying to execute it. After a month they officially announced that they give up.
I had an idea, they had just thoughts, nothing but their imagination, words on paper without actual substance behind them.

Just start. There is no point in talking about idea if there is 0% execution. Give it a try.
This is indeed great.


Sent from my Infinix-X551 using Tapatalk
 

icon8

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I call this 'Idea ADHD' and yes I have had this too, I tried so many things before and didn't make any money!

Then I realised all my ideas are probably equally or close to equally as good, just pick one and say 'For the next 6 months I will do this and either learn from it or make it work'
 

Analyticz

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What you are describing is the fear of the unknown.
There is uncertainty that is holding you back, you are thinking " what if this fails, I will have lost 100 hours or 4 months work, or $1000"

Doing due diligence may help as it may clarify what you are to expect, or the EV of the opportunity. If it meets your goal then you will have removed some of the uncertainty. If you want to know more about due diligence you should read the forever jobless site or listen to some episode where Billy delves into this.

But that is not to mean that you should spin your wheels over and over. Better to take action than to constantly be sabotaging your idea.
 

ArmandoDR

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Ask yourself which idea execution will give you the most bang for your buck in terms of: Experience, freedom, money, connections, etc.
 

G2TS-Man

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Hey man :)

We are on the same boat too...

Since 2 years, I always had the mind full of ideas, good or not.. I always ask me: is it a need ? is it possible to be bought by customers ???? etc..

I have a note book where aproximatively 25 ideas are wrote !!!!!!! Someday, I think "it is so stupid...."
But when I analyse them with focus and objectivity, It let 8 or 10 ideas about I'm pretty sure it can works.. But they stay ideas because it just "words on paper"...

This thread is full of WISDOM :) wouah.

Since 2 week I started to realise it's time to pick one and GO GET IT. This thread CONFIRM all I think. THANKS.

How I choose my ONE idea I will work the next 6 months ????

I take the one who compiled this factors on average: not too risky in financial term to try it (2500 € aprox), an idea I can apply myself 80% and outsourcing 20% (I'm working on learn the 20% for be able to do all the work) and the concept wich is the most according with the actual period, the market etc....
 

nradam123

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