May 05, 2009

Ideas: Do They Pass The Stress Test?


"There is nothing investors like more than a start up that seems like it is going to succeed even without them."

Paul Graham
Venture Capitalist


No great revelation that; but it does suggest a test you can apply to whatever great business idea you are thinking about doing, or to the new product/service your company is about to launch.

How many besides you think it's a good idea?


5 comments :

  1. You had better do more than just ask your friends and family. The "spin" you put to the idea will likely bias their answer.

    There are a number of sites you can go to and post a fairly simple description of the idea, asking people what they think. Not scientific but more so than asking a few people you know.

    You know a thing or two about that don't you Bill?

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  2. Asking "what do you think?" is fine but I recommend asking "would you be willing to invest in this?" followed by why not? when they say no.

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  3. And I'll add to Jen and Carl's comments, be prepared to walk away presuming you don't get the answer you want.

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  4. i would also argue that perhaps equally important as the idea itself is how the idea is executed and turned into a viable, commercially successful product/service.

    i think this is where a lot of entrepreneurs fall short. i don't really think that the world is short of good ideas - it's short of people who can take a good/great idea, run with it and make something of it.

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  5. Actually anonymous, if I'm considering an investment, in order of importance:

    1. Management

    2. A Plan

    and a very distant third

    3. The Idea

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