Over the past few years, I have been approached from time-to-time by prospective entrepreneurs who have an idea that they believe will support a compelling Web-based business. In today\u2019s create-a-job employment market, this occasional question has become a regular one. There is obviously a long checklist that anyone should review before embarking on a new enterprise. So, this list is a set of prequalifications\u2014based on my experiences\u2014rather than a way of determining an ultimate go\/no-go decision.<\/p>\n Can you code?<\/strong> I believe it’s critical that any solo entrepreneur who will use the Web as a marketing vehicle be able to create and maintain their own Web site.\u00a0 A fundamental rule of direct marketing is that you cannot predict what will work. You need to continuously modify your site based on experience with live prospects.<\/p>\n If you do not have the ability to creatively generate this ongoing evolution yourself, a couple of \u00a0things can happen:\u00a0 First, you will inevitably spend a fortune asking a freelance designer to continuously make changes for you.<\/p>\n Second, the time between new insights and tests will take days or weeks, instead of hours, as you inevitably end up in a time consuming cycle of scheduling based on availability, back-and forth based on your vision and the inevitable conflict between beautiful designs and simple, effective direct marketing designs.<\/p>\n Moreover, since the optimization of a landing page can make a huge difference in your ultimate profits this cycle never ends.<\/p>\n Even if you can’t hand code a site, it\u2019s possible to use WordPress to build extraordinarily sophisticated services.<\/p>\n Why is your idea worth developing (in two sentences or less)?<\/strong> Sure, great ideas can be complex – but if you cannot express them simply, you will never be able to sell them to prospective customers or sources of funding. Business ideas that can\u2019t be explained easily usually require more clear thinking.<\/p>\n Here\u2019s a related point. An idea that is effectively a single, better feature for an existing type of service rarely wins. The incumbents see a good idea and incorporate it into what they are doing.<\/p>\n Do you have the right amount of expertise in your chosen industry?<\/strong> Outsiders are often the source of transforming ideas. So, it\u2019s entirely possible that you can develop a business in an area where you are not presently an expert.<\/p>\n However, you need to understand why a seemingly brilliant, innovative idea hasn’t been previously implemented. Has it been tried and failed for reasons you don\u2019t understand? Is it impractical because of some other reason, which is specific to this industry? In addition, long-term success will require that you become an expert in the industry associated with your business idea. Today, you may have a valuable insight, but a sustainable business will require that you become ever more sophisticated in how you serve an industry.<\/p>\n Do you believe a great idea will propel you to success?<\/strong> If so, you’re delusional.<\/p>\n Even if you’ve got the best idea anyone has ever heard, it’s still smart to keep your day job until you’re certain of how it could be flawlessly executed. (You want to plan for flawless execution, so that in reality you can achieve good execution. Nothing ever works the way its planned.)<\/p>\n Great execution is what matters. I have seen many good or even less good ideas lead to great businesses because of terrific execution. Rarely, if ever, have I seen the reverse. A great idea that is poorly executed it an almost-certain formula for failure.<\/p>\n Are you a good marketer or salesperson?<\/strong> These are crucial skills. Unfortunately, people who have spent their entire careers in the back office often attempt to become entrepreneurs without recognizing how hard it is to move the needle with prospective customers. A previous career in sales or marketing is not a prerequisite. But, an ability to convince other people of the value of your ideas and services is essential.<\/p>\n There is a myth that great ideas are what propel successful entrepreneurs. Finding a good idea is the easy part. It\u2019s the execution that\u2019s difficult.<\/p>\n![\"abcblocks\"](\"http:\/\/www.stoth.com\/wp-content\/plugins\/wp-o-matic\/cache\/ee01c_abcblocks.jpg\")
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