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You have a ton of new ideas for your business. How do you determine which business idea you should pursue and which you should dump? Here’s a thought…try dating your business idea first!

Should You Pursue Your New Business Idea? (HINT: Date It First)

Date Your Business Idea First

Beware of infatuation. Like a first date, a new business idea can be exciting. But will you still like your idea a month from now? Or do you just happened to be infatuated with the idea? The first step to knowing if a business idea is worth pursuing is to slow down and get to know it better. What’s its personality? What are its strengths? What are its weaknesses?

Date it. So you’ve gone out a few times with your business idea and it’s more than infatuation. In fact, you really like this new idea. So now it’s time to build a solid relationship with your business idea to make sure it fits your core business. It’s time to ask the “relationship” questions like:

  • Does this business idea fit my mission?
  • Can this business idea replace an existing product or service I offer?
  • Will this business idea serve my current clients and customers well?
  • Could this business idea attract new clients or customers who fit my target market?

Put a ring on it. After asking the “relationship” questions, you’ll know whether you’re ready to marry this idea or not. If your are ready to make the commitment, stop beating around the bush. Put a ring on it! The time to take it slow is when your dating. Now it’s time to speed things up. Map out your plan and implement it with maximum focus and effort.

 

Questions: Do you have new business ideas? What stage are you at with your business idea? Are you ready to take it to the next level? If so, what’s holding you back?