So far in my not so short life I have started four companies on my own. Out of the four, two have been pretty successful (in a ridiculously low standards kinda way) and two were pretty forgettable…but having a .500 batting average is pretty good by any ones loose standards and while I don’t have all the answers I have learned some things along the way, and I am going to share something with you now.
Pretty Simple huh?
- Who – is the product/service for and do they really need it?
- What – is the product/service and will people pay for it?
- Where – will people get it and can you scale this distribution channel?
- When – can you get it to people and will there still be a market at that time?
- Why – are you doing this? (passion, profit, does it solve a pain for people, ego)