WRONG REASON 3: BECAUSE I HAVE AN IDEA.
Yes, I mean it. Having an idea is not enough reason to start a business. First, it’s not all good ideas that are business ideas. If all people say about your idea is “wow! that’s a nice idea” without the corresponding readiness to bring out the money in exchange for the value, then you don’t have a business idea.
A business idea must not sound very ‘out of the box’ but it must be the one that will make people pay you. Whenever you have that mind-blowing idea, one of the first questions to ask is “who is paying for this value and why should he be willing to pay for it?”.
Secondly, not all ideas can be successfully or competitively implemented by you due to some limitations such as skill(s), market readiness, geographical location, legal demand, etc. In this case, the path partnership becomes not only important but necessary. Remember, the idea is just 1%…execution is 99%.
You don’t just start a business because you’ve got an idea, but you must have an idea to start a business.
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