I'm still shocked at the amount of aspiring entrepreneurs who protect their idea like some Da Vinci Code.
It does not work like that.
Successful businesses are usually found on 4-5 key OTHER insights which are all interconnected to each other. They are like the pillars to your main idea.
These other 4-5 other insights could be related to sourcing, marketing+sales, service delivery, product innovation, data or AI driven solutions, distribution channel, operations or financing. And the magic sauce is the how you as the entrepreneur knits all of these insights together to execute a business model which will give you repeatable results.
So, next time your hear that entrepreneur keep their "big idea" secret, you should actually feel a bit sorry for them because they might not know that a successful business relies one more than just one "amazing insight".
One "amazing insight" is not enough to build a business…
byu/baghdadcafe inEntrepreneur
Posted by baghdadcafe
2 Comments
I think it depends more on the idea than the insight
Totally agree with this. A lot of people think the idea itself is the business, but honestly it’s everything around it that really matters. Things like distribution, pricing, timing, and positioning can make or break it. Curious though in your experience, which part matters the most in the early stage?