…This is something that I would rarely say outright. There seem to be lots of crazy ideas that succeed but whether it’s a good or dumb idea, it all comes down to execution. I’m likely to say that you’re dumb to think you can succeed when you don’t have the chomps to make it happen. Specifically you’ll need: money, experience, and/or a plan of action. It’s like the person who decides to open a restaurant because he thinks he’s a great cook. Don’t fool yourself… “cooking” as with any idea for a business, is a business with startup costs, licenses, overhead, staffing, marketing, budgets, etc. There are plenty of bad cooks who’ve opened a food establishment and succeeded— I’m one of them. If it’s a business, you have to think about and plan how you can make money, even in the case of a non-profit, you’ll still need money and have to operate within a budget to survive.
I have certainly made mistakes along the way but I’ve rated high in the 3 P’s of entrepreneurship— passion, persistence and problem solving ability. With these “P’s” you’ll be armed with the right tools to address the challenges in growing your business, in whatever industry. Then, on top of that you’ll have your startup roadmap for execution. If you’re unsure of your business idea, take the “Is My Idea Viable Quiz?” (take the quiz) Do you have experience? Have you developed a working version of your product or service? Where will startup capital come from? If can’t follow these basics, you’ll fail. There may be exceptions but you’re likely not going to be one of them. When you read about many of the entrepreneurial success stories, you’ll find that they’ve got the 3 P’s.
Do yourself a favor and think it through. There is no easy road to success… you need to stretch yourself and earn it. When you do, it can be oh so rewarding!