Not really the headline you’d expect from a guy whose main focus is motivating and inspiring. Yet this is an important, but often difficult thing every home-based entrepreneur must grapple with.
I’m an idea guy. I’ve got a million of them. Always have, since I was able to formulate an idea – sometime shortly after my conception. The thing is, not all ideas are good. Just because you think it’s the greatest thing since Heelys, doesn’t mean it’s something people will want.
Know Your Market
Let’s start with your niche. Hopefully you have one. Your niche knows itself very well. The goal is to know it even better. Can you anticipate what your market will want? It is possible, but so is accurately predicting the weather, and look how often that happens.
Just don’t be married to an idea before you’ve done your research.
The internets are a wonderful thing. You have the resources available to you inside a little tabbed window that just a few years ago would have taken months to check out. Utilize it. Spend time really researching and putting your idea through the paces. That’s a good place to start.
Then talk to people. A great way to find out if an idea is market-worthy is to ask people – people you trust and that will give good feedback. Don’t worry about someone stealing your idea. If it’s that good, then you’re going to have 200 copycats within a month anyway. And if it’s that easy to steal, you have a commodity not a brilliant idea. Remember ideas are worthless without implementation.
“Important thing is, when it comes, you’ve got to grab with both hands, and hold on tight!” – Otis, The Last Starfighter
Which brings us to my final point. Most ideas never get off the ground. If there’s not market for it, fine. Ditch it and move on to the next one, but if it’s a great idea – and a sellable idea – then move. Do something right away. Ideas are everywhere, but great ideas aren’t. Don’t waste one if you got it. Grab on with both hands and hold on tight. Otherwise, someday, you’re going to be slapping your head and thinking, “Crap! I had that idea years ago!”