THE IDEA CHECKLIST □ Does it solve other people’s problems? □ Do a lot of people have this problem? □ Am I passionate about the idea? □ Am I willing to commit the next 5-10 years of my life to this idea? □ Are others successfully doing something similar? □ Does it have too many competitors? □ Can I do something substantially different or better than others? □ Can I build the businesses on my capital resources? □ Could I have an MVP (minimal viable product) and customers in 90 days or less? □ Are potential customers giving overall positive feedback over 75% of the time □ Does the business risk/reward match my personal risk/reward? □ Is my background/skill set compatible with this business? □ Do I have competitive advantage on in terms of getting customers? □ If I don’t start this, will someone else? □ Can I court mentors who have been successful doing something similar? □ Does it have a high likelihood of success? □ Does it help me fulﬁll my purpose?
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