As you know, this blog is about discussing business ideas to create our start-up.
There is a classic post about business ideas written in 2005 by Ramit Sethi called the myth of the great idea. Ramit is one of the founders of PBWiki, which recently raised 2 million USD.
Most people say they"ll become entrepreneurs once they find a great business idea. But according to according to Ramit's that's a great myth because even the grandest ideas won't make your start-up successful. Success comes from a basic idea executed amazingly well.
Here I post a schematic skeleton of Ramit's article made by Alvin Lai
- Waiting for Great Idea
- Excuse for not doing anything - dangerous!
- Waste time
- Success
- Never comes from mind-blowing idea
- Comes from a basic idea executed amazingly well
- Rarely found by thinking
- Are found by doing
- A great idea is a myth
- Now what?
- Do better than most people
- Stop searching and start doing
- Identify a broad, high-level goal - an industry, lifestyle or financial outcome
- Identify things you like and dislike - be brutally honest
- Identify opportunities that open up more doors in the right area
- Avoid jobs/projects/opportunities that lead to dead ends
- Take multiple steps to reach a goal
- Eliminating choices
- Chalk up now-I-know-I-don't-like-that category
- Start doing
- Finding the right people to talk to
- Finding out what people actually need
- May be lacking in style, but doesn't matter
- Remember
- The Myth of a great idea is a great way to think yourself into oblivion and failure
- At our age
- Nothing wrong with not knowing what we want to ultimately end up doing
- Stop feeling guilty
- But there's something ENTIRELY wrong with not actively trying to find out exactly what we want.
- Trying, not waiting.
- Experimenting, not "thinking about it"
- Give it a shot.
Of course, this does not mean that we have to stop trying to find an idea for our start-up. We need to find an idea and we will continue discussing about it in globthink: the diary of our start-up
