It is that time of the year again! The selection process for the best ideas from the Power of Ideas contest has started - the last date for applications is 25 June 2012.
So, here as some of my thoughts:
So, here as some of my thoughts:
- Innovation is overrated. While ideas must possess at least some components that demonstrate individualism, and ideation, it is not important that every good idea must be innovative. So, if you have an idea that you believe has already been tried in a different context, but could still work for you, go ahead!
- Research, Research, Research. Every idea feels sexy. In fact, ideas give entrepreneurs a high. But do not imagine that just because you 'feel' it is a great, it actually is a great idea. Do your research, and be thorough about it. Do not be afraid to trash your idea, or to modify it based on your research. Most important, take as many opinions from as many sources as possible, before you freeze on 'the idea'.
- If you have not executed it, it is not proven. I see a lot of people who come up with ideas which have not been executed. On paper, it is not difficult to conceive of a great business venture. Even before you start raving about it, make the first steps in trying to prove that it works. This means that you need to have made it work, at least bagged a few clients, or if not, at least got to a stage where clients show an interest.
- It is all about you. Finally, remember that it is only you that matter. It must be your passion, your perseverance, your ability to convince all around you, and finally, your ability to communicate the same energies to people around you.
