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Wait for that ‘homerun’ idea or start taking swings?

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Envious

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Hey Guys,

So I just wanted some advice and perpsective.

I’ve got quite a few ideas that I can work on for my next business, but one of my big weaknesses is lack of Focus, so this next venture I’m making a point of picking one thing and sticking with it until it succeeds or it’s been proven to fail.

But here’s the problem, none of my ideas seem like they would be that ‘homerun’ idea.

I know you guys can’t make decisions for me but the question is should I wait for that big idea or just pick something which I think could work and start working and learning as I go?
 

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Envious

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Caught it

You don't know if it's a good idea unless other people show willingness to open their wallets for it. So test it.
So you’re saying that I should validate the idea, if it doesn’t show proof then move onto the next and by elimination I’ll narrow down my ideas.

What about physical products, is the only way to validate these by creating a prototype?
 

loop101

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Hey Guys,

So I just wanted some advice and perpsective.

I’ve got quite a few ideas that I can work on for my next business, but one of my big weaknesses is lack of Focus, so this next venture I’m making a point of picking one thing and sticking with it until it succeeds or it’s been proven to fail.

But here’s the problem, none of my ideas seem like they would be that ‘homerun’ idea.

I know you guys can’t make decisions for me but the question is should I wait for that big idea or just pick something which I think could work and start working and learning as I go?

If all other things are equal, do the quickest ones first. This will give you the most swings at bat in the least amount of time (in the beginning anyway).
 

ZCP

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Sit on the sidelines until everything is perfect and nothing could go wrong.

Make excuses. Wait for a step by step. Why take a chance when failure could point you in the right direction or be the practice run to get you ready for when you do have 'the big idea'..... /s
 

Envious

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Looks like I got my answer. Thanks all for the reply
 

Xeon

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But here’s the problem, none of my ideas seem like they would be that ‘homerun’ idea.

I've this same issue and doubt. In reality, I believe businesses are more like Launch ---> Adjust ---> Get feedback from market ---> Adjust etc.

I used to think if a product does not get a homerun within 48 hours of launching, it's a failed product and I should move on. By homerun, I'm referring to businesses/products that see immediate, roaring, viral and frenzied successes, such as the ones listed in this article: Top Overnight Success Stories of the Year.

Yes, things like ANGRY BIRDS. POKEMON GO.
You launch, go to bed, then bam! You wake up the next morning with impatient reporters spamming your business email with requests for interviews, you turn on the news to see news anchors reporting your products. The phones started ringing non-stop with angry customers demanding why your products are out of stock. You go to your website to check, and you realize your website is down, due to overloaded with too much visitors after BBC/CNN/Fox News all talk about your product, with some celebrities tweeting about your product as well. Fedex/USPS calls you to apologize, because even they can't handle your load!
 

Envious

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I've this same issue and doubt. In reality, I believe businesses are more like Launch ---> Adjust ---> Get feedback from market ---> Adjust etc.

I used to think if a product does not get a homerun within 48 hours of launching, it's a failed product and I should move on. By homerun, I'm referring to businesses/products that see immediate, roaring, viral and frenzied successes, such as the ones listed in this article: Top Overnight Success Stories of the Year. Yes, things like Angry Birds.

Yeah. As motivating as stories like that can be, I also think they have a negative effect. You start doubting every idea when you look at companies that had explosive growth.
I’ve always been a deep thinker and the paralysis of not doing anything because of the fear of taking the wrong step can be exhausting and extremely frustrating.

But it seems a common theme among the successful is to MOVE, it doesn’t matter if the direction is ‘wrong’ just move and then adjust.
 

Late Bloomer

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I know you guys can’t make decisions for me

Especially if you don't say anything at all about what options you see, what are your own criteria and values, what resources do you have now, etc.

Other than Babe Ruth, most home run hitters hit many singles, by swinging for the fences just about every time. Unless one of your ideas is so spectacular in the CENTS analysis, try several things every chance you can get up to bat. If you strike out at some things, stop doing them or make a new strategy. If some things get you to first base, see if you can keep going.

I used to think if a product does not get a homerun within 48 hours of launching, it's a failed product and I should move on.

It's a good thing for Apple shareholders that Jobs and Woz didn't think that way.
 

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