Starting up your own business? A great idea is not enough

I have recently met and advised two young entrepreneurs, both of whom had great ideas for a start-up business. And both businesses have great potential for scaling.

As we discussed them, however, I quickly saw that the one big problem facing each of them was completely different. This was a stumbling block for each business, one which had to be surmounted or the business would never get off the ground.

Identifying this problem(s) if you are staring a business is critical.

The other thing you must identify, and this is common to both businesses, was the need to generate clients/customers quickly to test the proof of concept for each idea.

Failing fast, if failure to happen, is a piece of advice I discussed with each of these entrepreneurs.

And the fundamental task and responsibility of getting customers or clients as quickly as possible. Everything else can be sorted out later. Getting punters will soon allow you to see if you have a potential business or not.

Abd the sooner you realise this, the better.