Startup Ideas and Execution

ethnic young woman using laptop while having tasty beverage in modern street cafe
Photo by Andrea Piacquadio on
The number of start-ups in India is expected to grow from 3000+ in 2014 to more than 11,500 by 2020. From young graduates to experienced professionals and industry veterans, all are taking a plunge and scripting entrepreneurial success stories.
Today I woke up with 6 start-up ideas, potentially 2 of them what I considered to be path-breaking and million dollar business ideas. However as once told and what I now realize, Ideas in themselves are worthless. What makes them worth is the Execution.
In the past three weeks, I carried out a survey among my friends, colleagues and professionals.
Results of the startup survey
Out of the 162 people surveyed, 123 (76%) had some idea for a new business start-up, however only 29 were willing to execute the idea themselves. Try answering the following to yourself when you decide to take a plunge in the start-up world?
  • List the reasons you want to go into business for yourself
  • Are you willing to work long hours even if this business doesn’t make money immediately?
  • Have you ever worked in a similar business?
  • Describe what you plan to sell in one or two sentences?
  • Describe your typical customer
  • How big is the market? Is the market growing, static or declining?
  • How much of the market can you reach and how?
  • How will you get your products or services to them, or how will they (customers) get to you?
  • Who are your competitors and how will you distinguish your products or services from theirs?
  • What is your pricing strategy? What are the fixed expenses?
  • Is there really a need for a business like the one you are planning to start?
  • What have you done to find out what your potential customers really want to buy?

By Nitesh Verma

Founder - Business Management Blog. I am an independent business strategy consultant, helping companies take data driven business decisions. My mission is to find and implement simple solutions for complex business problems.

Share your views

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: