Occasionally, I meet an entrepreneur that’s got an interesting idea, but is oriented in the totally wrong direction for the market.
For example, consider ideas around DVDs: they’re still very popular, but their future seems clear. With bandwidth and storage advances, movies will be like music is today: downloaded on demand.
These kinds of ideas aren’t necessarily bad, but they require a shrewd assessment of how big the window of opportunity really is. Trying to build a company is hard enough; doing it while the market is moving in the other direction is virtually impossible.
But at least you should know going in: is your idea oriented in the “right” direction? Do you have enough time?