The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

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

Envious

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 26, 2017
251
404
219
London
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?
 

Don't like ads? Remove them while supporting the forum. Subscribe.

Envious

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 26, 2017
251
404
219
London
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

Gold Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Mar 3, 2013
1,025
1,753
578
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

Legendary Contributor
Staff member
EPIC CONTRIBUTOR
FASTLANE INSIDER
Read Millionaire Fastlane
I've Read UNSCRIPTED
Summit Attendee
Speedway Pass
Oct 22, 2010
3,017
10,420
2,456
Woodstock, GA
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

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 26, 2017
251
404
219
London
Looks like I got my answer. Thanks all for the reply
 

Xeon

All Cars Kneel Before Pagani.
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 3, 2017
1,597
3,290
776
Singapore
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

Bronze Contributor
Read Millionaire Fastlane
I've Read UNSCRIPTED
Speedway Pass
Sep 26, 2017
251
404
219
London
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

Gold Contributor
Read Millionaire Fastlane
Speedway Pass
Apr 17, 2018
950
1,339
362
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.
 

Sponsored Offers

MARKETPLACE 7 Days To Freedom: From Wantrepreneur/Wage Slave To Freelancer
I attended the live session, really loved it! It gives some useful and practical tips on how to...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Three things: 1. Discord Chat is open. Click here for free access. 2. New YouTube Channel...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2021
Its for students who have joined. Did you sign up? Hey Rob, been watching your infoproduct and...
Introducing MJ's Personal Unscripted Network, Join Now for FREE!
Any chance to make it available outside of US? It has been available outside of the US on...
MARKETPLACE Not sure how to start? This free book will teach you how to build a successful web design business
If there’s one thread I see repeated over and over again on the forum, it goes like this: “I...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Thanks for clearing that up. What do you recommend for those who are still in the process of...

Forum Sponsor

Over 100 Fastlane Students
More Details...

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom