Business Idea Reality Check: What You Need to Know
If you have ever considered starting a business, then this is a question you have asked! This video will help you find the answer.
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Do you love your idea? Passion is key in business. It’s the fuel that keeps you going when times are tough. But passion alone isn’t enough. You need to ask yourself, do you have what it takes to make your idea work? You need the right skills to turn your idea into a successful business. Another important factor to consider is demand. Do people want your product or service? You need to know if there’s a market for your idea. Lastly, you need to consider people’s willingness to pay. Will people pay for your product or service? This is crucial for your business to make money.
Remember, a good business idea is more than just a good idea. It’s about passion, skills, demand, and people’s willingness to pay.
Article referenced: www.investoped...
Do you have questions about this topic? Please add a comment!
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➡️Top 6 Reasons New Businesses Fail: www.investoped...
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ABOUT THIS CHANNEL
Kayla McGuire is a trusted strategic advisor, enthusiastic project management coach, and the founder of Kayla McGuire Consulting, LLC. For the past 15 years, Kayla has worked with entrepreneurs to launch and scale startup operations. With experience that spans disciplines, Kayla is known for her ability to form and execute visionary plans without sacrificing agility or compromising the team’s wellbeing, a skill she credits to a deep understanding of project management fundamentals.
Kayla’s background in business building helped make it a natural move when it came time to embark on her freelancing career in 2020. Through her consulting company, she has built and executed project management training programs, coached dozens of project managers as they launch their freelancing careers, and advised founders on operational strategy and project best practices, leading to growth and scale. Additionally, her e-book “The Freelance Project Manager Guide Book” has served as a blueprint for aspiring freelancers worldwide.
Beyond her consulting work, Kayla shares her passion for project management on her KZitem channel as well as LinkedIn. Her original content closes the gap between the technical knowledge needed to excel as a project manager and the day to day reality of life as a freelancer.
"Kayla goes beyond theory by incorporating real-life scenarios into her teaching, providing invaluable practical experience. Her patience, enthusiasm, and dedication to success created a highly supportive learning environment." - Cris, Coaching Client 2023
Do you have questions about project management? Leave me a message in the comments section below.
00:06 Introduction
1:16 Data from the Bureau of Labor Statistics
2:11 Ikigai
3:32 Passion: Do you have passion for the idea?
4:18 Skilled: Do you have the appropriate skill set for the idea?
5:05 Demand: Do people want/need the idea?
5:34 Best ways to know if there is demand
6:45 Pay for: Will people pay for this idea?
7:37 Where we want to be
8:22 Resources
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