What does an entrepreneur do when they are faced with choosing between multiple startup ideas?
Since my work situation has changed, I’ve been faced with this question myself. Should I keep working on business ideas I’ve been dabbling with for a few years, or do a flip and focus on one great idea, that may have come to me in my dreams (I really can’t remember).
I talked to my friends and family, a great help, and did some research online. One of the biggest things that helped set a clear path, a section in an article on Forbes about Abbreviated Business Plans. So I spent a few hours writing and researching a brief business plan for each idea. There where a few common themes about some of my business ideas:
Others trying in the space and not succeeding
A small market potential
Large capitol requirements
An industry shift, for example:
brands going direct to consumer
Self publishing on social media
With all those negatives one thing is for certain technology was never a barrier to entry. Which helped lead me to my new idea, which although it exists in a competitive market, it posses some attributes the others did not:
A huge market potential
Multiple sources of potential revenue
A clear weakness in the existing industry
Multiple clear exit strategies
Still something I’m passionate about
On the plus side I have a few pans B, C, D, E and maybe even all the way to Z (No I didn’t write that many, the rest I told my dog, :p), if one of them doesn’t work out. Just look at how many successful entrepreneurs have failed at first, Steve Job, Max Levchin, Henry Ford and the list goes on.
I recently launched a new theme on LawrenceStewart.ca, and to cut down on code maintance, I’ve made the theme flexible enough to support WindDude.com, which just relaunched with the new theme!
The exciting news for you is, I plan to release this theme shortly to the WordPress Community! There are just a few more bugs and enhancements to sort out in between my big projects which are staying hush for now.
For the last week I’ve been working on a new site for winddude.com and I’m proud to announce the Beat version is alive. The theme is still in development, I have a few more features to work out specific to the WindDude webpage, and a few minor things to tweak, once I’m happy with it there I am pleased to announce I will develop the theme for public use.
Here are some of the features already implemented:
Large featured header image (this may become a slider)
Check out some interesting facts about WordPress which celebrates it’s 10th birthday today. What began as a small bloggin software is now the most commonly used and most important CMS (Content Management System) in the World.
MarketPress created this infograph to celebrate, also check out the link for some great prizes from MarketPress.
Here is a shot from a current work in progress. I am currently designing a new logo for my Company Gnarly Inc. Gnarly Inc is getting developed into a online publish of extreme sports news, and was recently incorporated in Manitoba Canada. My goal is to turn it into the online global publisher of extreme sports news.