Creating Your Own Opportunity Filter
In other articles I’ve talked about how investors might evaluate start-up ideas. But how should you evaluate your own ideas for a start-up? If you’re like most entrepreneurs or would-be entrepreneurs you have an idea a week or maybe even an idea a day. Which ones are worth spending your time on?
Once you’ve done this enough and taken action on a few, you will develop a personal filter based on what’s important to you as an entrepreneur. It will take shape based on what you like to do, your strengths and what kind of ideas have succeeded (or failed) for you before. And you will be able to cull many of your ideas rapidly.
But what if you’re a new entrepreneur? Here are some articles from around the web that you can use to sift through your ideas until your own idea filter reaches maturity.
Idea Evaluation Checklist via Entrepreneur
Business Idea & Opportunity Evaluation via Venture Choice This article gets a little bit more into the investor perspective than I would like for the purposes of this article, but I particularly like the description of the difference between an idea and an opportunity and then the opportunity evaluation list.
Evaluate Your Business Idea via Moo.com – This is a helpful article from the people who make the cutest business cards ever.