Which Way is Your Idea Pointed?

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?

2 thoughts on “Which Way is Your Idea Pointed?

  1. Indeed. I’ve learned so stunningly much from the two companies I’ve launched … and both of them are plagued with exactly the sort of dead-end technological horizon you mention here.

    I’ve got enough time to have some modest success before my firms hit the various walls, but for the next venture, I’m going to pay a LOT of attention to this issue. Better to be accelerating hard towards open highway than towards a brick wall.

  2. Hi,

    I’m a new member to this forum and enjoy reading all the great posts! With regards to how we know whether our idea is pointing in the right direction, one thing to do is to discuss your idea with others to see what they think. That way, you can confirm you have an unmet need that can be sustained. The feedback you get can then be adjusted according to feedback.

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