Sunday, 28 November 2010

Which of your Ideas be Picked

You've got multiple ideas for implementation. Your first step as an entrepreneur which one of those should you choose?

If you are extremely passionate about one of your ideas and are desperate to start with it then get cracking with it! But be sure that you'll not be perturbed whether that idea succeeds or fails. In case where you are bothered about cashflow pick the idea whose development time is minimum. It will be launched in market soon. Added advantage will be it will work like breaking the ice for you as an entrepreneur. It will create your presence in the market.

Ideas that involve considerable research, plus development time is also huge, may start bothering you about cash inflow. If revenue is a major consideration factor then choose the idea which will get you maximum inflow. This will help in continuing you with further ideas.

Working on idea that is in some niche area has its pros and cons. Advantage to you will be less number of competitors. Possible threat is huge difficulty in acquiring even a single customer!

Consider all the factors and choose the idea that fits optimum in your scenario.

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