Unfortunately, we can’t move every idea forward. We don’t have the time or the money. Or, after consideration, in may not be that great an idea after all…
Carol’s latest post on MasterCard Biz is a must-read for any of you who are prone to chasing ideas, instead of focusing on your core business offerings. In “Considering a New Business? 5 Questions to Ask,” Carol begins:
“As a group, entrepreneurs tend to be visionaries. They love coming up with ideas and beginning the manifestation process of turning those ideas into reality.
However, after doing the day-to-day grind of following the plan they created, another idea may seem very enticing. Not unlike the otherwise well-trained dog who dashes after the squirrel that crosses his path, some entrepreneurs, especially solo business owners who may not have accountability to partners or investors, may lack the discipline to keep on the path. What path? The path that leads to the cash.
To help determine if you’re being seduced by an idea or if it’s worth a long-term investment, ask yourself these five questions before you begin something new.
You can read the rest of the post here.