Some entrepreneurs decide they want to start a business and then look for a big idea while others begin by recognizing a market opportunity, personal pain point, or business need that inspires them to start a company. Both of these paths towards business creation have the chance of leading to a successful outcome.
That said, a person who decides to become an entrepreneur before being inspired by a specific idea may be surprised how difficult it is to zero in on something specific. Most of the best businesses that exist are unplanned accidents. Many people who have all of the qualities of a successful entrepreneur will never find that perfect business idea and will instead suffer through many false starts and failed attempts.
See what other mentors have to say about having a ‘Eureka’ moment.
Go Big or Go Home. The sign of a true entrepreneur is somebody who is unafraid to think very big and go after a business opportunity that seems extreme or even daunting. There are certainly opportunities to make money by building businesses that marginally improve on existing products or services but the real thrill of entrepreneurship sets in when the decision is made to go after an enormous idea that seems slightly crazy rather than playing it safe.
Most companies evolve and adapt many times during their development so starting with a huge idea ignoring limitations or constraints allows more flexibility while pursuing the business opportunity. One of my favorite examples of this is when Fred Smith had the idea to create Federal Express. The enormous infrastructure, logistics, and resources that he needed to build before FedEx could deliver its very first package is daunting to think about even now. Another example would be Elon Musk who simultaneously runs Tesla, an innovative electric car company as well as SpaceX which is building the world’s most advanced rockets and spacecraft — Talk about Big Ideas!
If you have a BIG IDEA and want to network together lets talk We can do the design and marketing and you can do the sales and leg work. Don’t invest our money if you don’t have to, a JV Opportunity may be the way to see if your product has what it takes.