I have developed an idea for a great business. No I am not going to blog about my idea (not yet anyway…), but I am going to blog about the challenges I have faced so far and the one that is keeping me from moving forward. At first, I pitched my idea to the company I work for. It is loosely related to what we do today and I thought we might be able to find a way to make it work. Obviously the low risk, low reward way to go, but I had to give it a try. Those discussions haven’t gone as well as I would have thought, so now I am thinking about starting it on my own. Not to say that I am leaving where I am. I think I can do both well so I’m going to try that first. If my idea takes off, then I will have to make a decision what I want to do then.
The one thing that is holding me back is that I don’t think that I’m all that smart. At least that I’m not any smarter than a significant enough group of people in the world that my idea hasn’t occurred to someone else. And it’s that fear that I won’t be first or that someone better connected, smarter or better funded will beat me out is keeping me from moving forward. It’s the confidence (or is it ignorance?) that your idea is unique that helps entrepreneurs move forward. Or confidence that you can execute better than everyone else. This is part of the natural selection process of entrepreneurship…those that don’t have this true belief in their ideas or their execution skills don’t enter the market. I think I need to do a little more modeling, a little more market (especially competitive) analysis and a little more discussion with those who have done it…and maybe that will get me there.
What have you entrepreneurs out there done to get you over the edge?