02
Sep
11

Picking a winning startup idea

I realized a long time ago that ideas were dime a dozen, worthless unless you pick the right one which targets the right market, complements your skills or knowledge and has the right timing, which over a period of time turns into something valuable.

I look at myself a year back when I was crashing a generous friend’s place in Bangalore. With a semester left before graduation, I was doing ‘research’ for the startup I wanted to found right out of college. I was working on multiple ideas, talking to numerous people to figure out which would be the winner. Its hard to evaluate your own ideas without bias, so I had two parameters to judge them on:
1. What market insight did I have that most people didn’t?
2. What execution insight did I have that people who knew point #1 didn’t?

GharPay scored high on both, which I now realize made me confident enough to start this. My years of obsession with internet businesses and microcredit industry paid off. I knew what ecommerce industry lacked and I knew how microcredit companies manage cash. I obviously had no experience in running a company but I knew how our biggest problems could be solved.

So if you are a young founder, be honest with yourself and figure out what is it that gives you an information advantage to start a successful business. Don’t be daunted by the fact that you have no experience in execution, you’ll figure it out. But if you have neither information nor skill advantage, then you just might be gambling.

I learnt this by looking at my father’s experience with the stock markets. He could never ever predict his winning stocks, because he simply didn’t know more about one company than anybody else out there. So how could he possibly win?

Advertisements

4 Responses to “Picking a winning startup idea”


  1. October 8, 2011 at 3:27 pm

    Celebrations and events bring you the opportunity not just to discover the meaning of relations in your life. In fact, it gives you the opportunity to accessorize the relations as well. And the ever charming appeal in its gift stuffs that http://www.hampersnationwide.com/USA/Gift_Ideas_USA.asp keeps delivering for your close acquaintances is just the right move that your celebration deserves.

  2. October 29, 2011 at 12:23 pm

    Send gifts to France online from http://www.gifts2france.com and convey your warm wishes and dedication to your special ones. Indulge them in a cheerful way with our exotic range of stunning gifts for delivery in France.

  3. November 11, 2011 at 5:19 pm

    Gifts can shower happiness out of nothing. It makes the receiver feel special on the special day, and in takes them to the seventh heaven of cheerfulness. A gift symbolizes the invisible, yet the strongest bond between two hearts. Visit http://www.giftbasketshongkong.hk for more details.

  4. November 16, 2011 at 11:16 am

    If human emotions could ever be materialized, surely it would have looked like a flower. We celebrate occasions only to be with those whom we are close related with. And not surprisingly, these close terms are constituted with the core emotions from our heart. Visit http://www.spainflorist.com to learn the floral language to express yourself.


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


AddThis Social Bookmark Button
"I rarely end up where I was intending to go, but often I end up somewhere that I needed to be." - Douglas Adams

Love me? Subscribe to me!

Recent bookmarks

Thought stream


%d bloggers like this: