No such thing as a bad business idea

good-idea-vs-bad-idea

Except in some rare cases, there is no business idea that is really bad. What usually happens is poor execution or bad execution. What kills new businesses is usually the accumulation of bad decisions – wrong marketing initiatives, hiring wrong staff members, selecting crazy partners etc.

It is not that you have a bad business idea, its just that you are yet to figure out how to do the business in an effective manner. The solution is not to go hunting for a magical business idea, that will be a waste of time.

There is no business or industry that doesn’t have millionaires. No matter how small the idea looks, do some research and you will find people doing the same thing you want to do that have made a lot of money from it. Every industry is a billion-dollar industry.

The solution then is to figure out how to do your business well so as to make it successful. The solution is to find out the right things to do. The solution is to find and select the right partners.

Time spent looking for a magical business idea is better spent planning how to execute your current ideas very well.

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