Section D: Reviewing Your Research
Before I go any further, I want to remind you of something important…
There’s a manual that accompanies this course, which includes worksheets to help you with the previous brainstorming and researching steps. Please take some time to complete the worksheets, as these tools will help you complete this process more quickly and easily.
Some people complete these steps and only have a couple viable options. But most people end up with more ideas they could pursue in a lifetime.
In the next section, you’ll find out how to assess these different ideas in order to determine which ones seem to be the most viable. However, if you’re starting out with quite a few ideas, then you may want to whittle down your list a bit to save time later.
To do that, ask yourself these three questions about the ideas on your list:
Which ideas seem to have the most profit potential, at a glance? These are the ideas that seem to have a large, eager market and plenty of products and services being offered to the larger market.
Which ideas personally excite and interest you?
Which ideas really leap out at you as good possibilities?
While you’re primarily looking at these ideas in terms of profit potential, it is helpful if you personally like the idea. I mean you’re going to be joined at the hip to this idea for awhile. We might even say you’re going to be married to this idea.
You wouldn’t get married to someone who looked hideous and with whom you couldn’t stand to be in the same room for more than five minutes, would you? Of course not. And likewise, you don’t want to get married to an idea that has your stomach turning and reaching for a sick bag. So choose wisely.
Now rank your ideas from best to worst, based on your answers to those questions. When you start assessing the viability of your idea in the next module, you can start with the best idea on your list and work your way down until you find your million-dollar business idea.
Let’s recap where we are, and then you can move on to the next section