When exploring a new business idea, it's hard not to grapple with one fundamental question: Is my idea worth pursuing? Your decision on whether to pursue the idea should be based on consideration of the following questions:
- How unique is your idea? You can look at whether anyone else has had a similar idea, but failed to turn it into a business. If so, learn about the factors that led to failure.
- What is the potential for impact? Consider how many people your idea has the potential to impact, and the degree to which your idea will impact people.
- Why are you uniquely qualified to turn your idea into reality? If you have an idea that’s worth pursuing, you should ask yourself whether you’re the right person to pursue it. What about your background makes you uniquely qualified to build a company based on your idea?