Do You Have a Startup Idea? The 10 Questions Below Will Determine its Viability.
If you have an idea already, it’s important to know if the idea is viable before you dedicate time and resources to something that may possibly not work. Thousands of startups are launched every week, but few survive to tell their story. You don’t want your business to be another statistics of failed businesses. Get the numbers right, find out what can work and what will not work, invest some time to do research about your idea and start it right. These are 10 of the important questions you have to answer to determine if your idea is worth pursuing.
Will Your Idea Solve a Problem Or Meet a Need?
The number one key to success in life and business is to find a need and fill it. If you can identify the problem that your idea can solve, then you have found a viable business idea.
Is Your Target Market Big Enough To Create a Real Business?
To last in business, you need to find out if your idea has a large target market. You need consistent flow of patronage to last in business.
Can You Execute The Idea
Your capacity to execute the idea is of great importance. Do not go into a business because others are doing it. Find out, if you have what it takes to launch the business.
What Is The Simplest version Of Your Idea?
The easiest way to start a business is to make it simple. “And the LORD answered me, and said, write the vision, and make it plain on tables, that he may run that reads it”. Habakkuk 2:2
What Makes Your Product Different?
Accentuating what makes your business idea different or unique may be just what you need to jumpstart your marketing.
How Much Money Do You Need To Launch Your Idea?
Can you bootstrap your company? Or are you going to need a small business loan? Might an entrepreneur in the family be able to invest, or should you look for venture capital or an angel investor? Money is a big topic for entrepreneurs, and you’ll want to know your options early on.
Is This a New Idea?
There is nothing new under the sun but you can create a new idea from existing ideas. Is your idea new or unique? You must answer this question.
What Opportunities And Risks Do You Face?
The path to success is to identify the opportunities in your business idea and maximize them. Another important factor is to identify the risks involved and evaluate them. You should be able to know if you can handle the risks.
Have You Identified The Success Factors?
Every enterprise has the requirements for success. If you are able to identify these success buttons, you cannot fail.
How Will Your Business Survive And Grow In The Next Five Years?
So many businesses close within the first 5 years. If you can come up with a strategy that can help you last beyond this period, you are ready for business.
Work with these ideas, and your success in launching a new business will be inevitable.
You Will Succeed!
– Chinedum Azuh is the CEO of Learning Lab Nigeria and an Online Consultant with U.S.A. Learning Annex.
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In the early 20th century, the New York Telephone Company made a detailed study of telephone conversations to find out which word is the most frequently used. The pronoun ‘I’ was used 3,990 times in 500 telephone conversation. I believe we do not need a detailed study to obtain a similar result in our age. Everywhere you go, people use the word “I”. Statements like: I am this or that; I want to bla bla bla, etc. are common to everyone. But the amazing thing is that not many people know what “I” represents. In order words, many just assume who they are; they neither know nor are convinced about their real identity or capability.
This reminds me of Ap0stle Peter’s conversation with Jesus Christ shortly before his crucifixion. “Jesus said unto him, Verily I say unto thee, That this night, before the cock crow, thou shalt deny me thrice. Peter said unto him, Though I should die with thee, yet willI not deny thee. Likewise also said all the disciples.” Mat 26:34-35 (KJVA)
Three things interest me about this verse: First, it’s obvious Peter did not know much about himself like he thought and bragged. This is one of the major problems several people in the world are facing today. Secondly, all the 12 disciples also had similar issues even though they must have had direct contact with Jesus for some years. Therefore, your length of service in the Church doesn’t guarantee your understanding of “I”. Thirdly, Jesus understood his disciples more than they did and was willing to reveal the “I” to them. I trust God that he will give you a similar revelation in these series of messages which we will be sharing in the next couple of months.
Some years ago, I was invited to preach a similar message in a seminar organized by a campus fellowship. About two years later, I received a testimony from one of the attendees that the message brought about a turning point in his life. I’m trusting God for a similar testimony in your life.
We will be considering four (4) questions that anyone who desires to be great and successful in life must find the right answers to on time. They are:
- Who am I?
- Where did I come from?
- Why am I here?
- Where am I going to?
Don’t be tempted to jump the gun. These questions will give birth to several other questions that will help propel you to fulfillment in life if answered correctly. You can show love to others by inviting them to be a part of this series by subscribing to our mailing list athttp://christlifeline.org/mailinglist.php
– tope aladenusi
Jesus Christ answered the following questions correctly before he died. Apostle Paul did the same. All men whose lives were declared by God to be successful did the same. Why shouldn’t you do likewise?
# 1. Who am I? – Sounds simple and common, but it goes a long way to determine if you end up in life a success or failure. Your identity defines your activity. A fish is expected to swim. When you hear a bark, you think of a dog. The label you place on yourself determines what your mind is predisposed to do and consequently, the lifestyle you live. Paul always introduced himself as “Paul, an apostle of Jesus Christ by the will of God“. (Eph 1:1). Who are you?
# 2. What am I here for? – This is your purpose for living. Why do you see yourself qualified to still be on earth. The computer keyboard is used for typing information into the computer. If it stops functioning, it is not better than plywood. What are you doing that makes you believe the world still needs you? Jesus Christ said in John 10:10 (NLT) – “My purpose is to give life in all its fullness“. What is your purpose for living? If you don’t know the mission you are to accomplish, then you may never get to a point in life where you say like Jesus – “It is finished”, or like Paul, “I have finished the race”, or in modern lingua – “mission accomplished”. What are you meant to do, finish and accomplish?
# 3. Am I living in line with my purpose? – Those who have succeeded in answering the first two questions correctly should endeavour to answer this everyday. It is meant to give you focus and direction. Without focus, distractions are constantly celebrated, energy is readily wasted and life is lived unfulfilled. Without a compass, a pilot is assumed to have said his last prayer. Without a map, a voyager may not get to his destination even though he started sailing well. Paul said in I Cor. 9:26 (NLT) “I run straight to the goal with purpose in every step“. Is there purpose in every step you take in life?
Beloved, I believe one day you will love to stand before God and say confidently that – “I accomplished my mission on earth”. You will want to receive God’s commendation for living a successful life. Why not take a timeout to answer these questions correctly and consequently reflect the answers in your lifestyle. Remember, only the living can make decisions, so act now!
Recently, a company in India participated in some Placement Sessions. They asked some interesting questions to students during recruitment. Here are some of them:-
- There is one word in the English language that is always pronounced incorrectly. What is it?
- A man gave one son 10 cents and another son was given 15 cents. What time is it?
- A boat has a ladder that has six rungs, each rung is one foot apart. The bottom rung is one foot from the water. The tide rises at 12 inches every 15 minutes. High tide peaks in one hour. When the tide is at it’s highest, how many rungs are under water?
- There is a house with four walls. Each wall faces south. There is a window in each wall. A bear walks by one of the windows. What color is the bear?
- Is half of two plus two equal to two or three?
- There is a room. The shutters are blowing in. There is broken glass on the floor. There is water on the floor. You find Sloppy dead on the floor. Who is Sloppy? How did Sloppy die?
- How much dirt would be in a hole 6 feet deep and 6 feet wide that has been dug with a square edged shovel?
- If I were in Hawaii and dropped a bowling ball in a bucket of water which is 45 degrees F, and dropped another ball of the same weight, mass, and size in a bucket at 30 degrees F, both of them at the same time, which ball would hit the bottom of the bucket first? Same question, but the location is in Canada?
- What is the significance of the following: The year is 1978, thirty-four minutes past noon on May 6th.
- If a farmer has 5 haystacks in one field and 4 haystacks in the other field, how many haystacks would he have if he combined them all in the center field?
- What is it that goes up and goes down but does not move?
- The word “incorrectly.”
- 1:45. The man gave away a total of 25 cents. He divided it between two people. Therefore, he gave a quarter to two.
- None, the boat rises with the tide. Googly
- White. If all the walls face south, the house is at the North pole, and the bear, therefore, is a polar bear.
- Three. Well, it seems that it could almost be either, but if you follow the mathematical orders of operation, division is performed before addition. So… half of two is one. Then add two, and the answer is three.
- Sloppy is a (gold)fish. The wind blew the shutters in, which knocked his goldfish-bowl off the table, and it broke, killing him.
- None. No matter how big a hole is, it’s still a hole: the absence of dirt.
- Both questions, same answer: the ball in the bucket of 45 degree F water hits the bottom of the bucket last. Did you think that the water in the 30 degree F bucket is frozen? Think again. The question said nothing about that bucket having anything in it. Therefore, there is no water (or ice) to slow the ball down…
- The time and month/date/year American style calendar are 12:34, 5/6/78.
- One. If he combines all of his haystacks, they all become one big stack.
- The temperature.
– femi fadumila