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5 Reasons Why Your Next Big Idea Might Fail

February 13, 2010

by Pat Flynn

If you’re anything like me, new business ideas run through your brain each and every day. Sometimes, we come across a few particular ideas that we just can’t stop thinking about – because they are that good!

I think you know what I’m talking about.

Constant brainstorming, rapid note taking, and visions of success are all syptoms of this sort of “business bug”.

Many times, however, after a couple of days or even a couple of months, the motivation behind these great ideas just seem to die out and never evolve into the next step.  It’s kind of sad, because I’m sure many of those ideas were awesome, money-making ideas.

If we can understand why this happens, then I think we can stop the momentum from slowing down and start taking things to the next level. Here are 5 main reasons why I think ideas in our head take a turn for the worse:

1. We’re Not Seeing Any Results

We live in a time where we all want things to happen FAST. I mean, Google searches take .000012 seconds, and we all perform these searches each and every day. It’s what we’re used to.

Ideas take time to materialize, so quitting or giving up before anything even begins to happen is a sure-fire way to kill a great idea. Remember what your goals are and why you were so excited about your idea in the first place.

One trick I learned is to map out your “path”or roadmap. Write down the steps you think it takes to get to where you want to go, and you’ll see that you’re only in the beginning phases of the entire process. But, seeing the rest of your “roadmap” (including your goal) on paper will definitely give you the boost you need to keep going.

2. We’re Unsure of What To Do Next

This happens all of the time, but it definitely shouldn’t stop us. We’ve just reached a hurdle, and we just have to do a little more research (or simply ask someone for help!), in order to jump over it.

Also, you can go back to your “roadmap” and see what the next steps are. And, remember to take things one step at a time.

“Cinch by the inch, hard by the yard.”

3. We Just Don’t Care Anymore

For whatever reason, you’ve lost sight of why you’re working so hard. When it comes to motivation, here’s what you can do:
•    Remember why you were so excited about your idea in the first place! Envision what life will be like at the end of the tunnel.
•    Read an inspirational book. My favorites are Crush It! by Gary Vaynerchuk, and The 4-Hour WorkWeek, by Tim Ferriss.
•    Display your favorite quotes. At my desk, I have this quote posted up on the wall next to my computer: “The Harder I Work, The Luckier I Become.” Reading that always gets me going again.
•    Talk it out with someone. If you’re feeling low on energy, sometimes all we need is a pick me up from a buddy. That’s why so many people say it’s a lot easier to go to the gym or stay on a diet if there’s someone else there with them.
•    Take a quick break. We often work on something so much that we forget why we’re doing it. Take a day or two off, and you’ll often see the motivation come back in no time.

4. We’re Not Sure if Our Idea is as Great as We Thought it Was

Maybe you’re having second-thoughts about your idea. Maybe it’s not as awesome as you thought. This is the thought that pops into my head more often than the others, and it’s definitely a downer. But here’s what you can do to keep your idea alive.

Simply put – think positive thoughts. Have you ever heard of “The Law of Attraction”? It basically states that people’s thoughts dictate the reality of their lives. In other words, think positively, and positive things will happen to you.

Also, you have to realize that you’re not going to succeed unless you give it a shot. What’s the worst that can happen? If you’re doing business online, the worst is probably not as bad as you think it could be.

5. We See Someone Else Doing Something Similar, and It Seems Better

Okay, so someone “stole’ your idea, or they beat you to it. Either way, it doesn’t matter. Here’s why:
•    That fact that you see someone else doing something similar to what you had in mind is actually a good thing! In fact, it shows that it was such a great idea, that others are already using it to make money for themselves. There’s a proven market for it, and now it’s your turn to join in.
•    The Dry Clearners Theory: Have you ever noticed how many dry cleaners there are in one location? Here in San Diego, there are over 600 (according to the yellow pages). My point is this: you don’t need have a unique idea in order for it to succeed. And if there a need for something, there’s always room for more options and solutions in the market.
•    Lastly, all you have to do is make yours better. Put some thought into why people will choose to visit your website, read your content, and purchase from you, instead of someone else.

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