|
Too many entrepreneurs marry ideas they should’ve just dated. They fall in love with the vision and ignore the signs it’s a loser. Here’s how to run a quick “idea audit”—before you waste years of your life.
|
|
1. Urgency of the Problem
Are people already trying to solve this? Are they Googling solutions, duct-taping hacks, or hiring someone today? If not, you don’t have a business. You have a hobby.
|
|
2. Will They Pay (and How Much)?
If your target market loves the idea but won’t pay—or can’t—you’re done. Selling to broke people is charity. Great businesses sell to people with pain and purchasing power.
|
|
3. Frequency = Revenue
How often will they need this? Once a month? Every day? High frequency means high LTV (lifetime value), and that’s where the real money comes in.
|
|
4. Competitive Edge
Why you? Why now? What makes this different or better than what’s already out there? If you can’t answer that fast and confidently, go back to the lab.
|
|
5. Scalable Distribution
Can you acquire customers at scale—profitably? Good ideas die without traffic. A great idea with a bad go-to-market strategy is still a failure.
|
|
Don’t chase “cool.” Chase proof. The faster you test, the faster you learn, the faster you win.
|
