From the course: Entrepreneurship: Finding and Testing Your Business Idea

Narrow the list to your best ideas

From the course: Entrepreneurship: Finding and Testing Your Business Idea

Narrow the list to your best ideas

- So we created a good list of starting business ideas. Now what? Well, you'll notice on that worksheet, that there are three more columns, head, heart and rank. We want to get your list down to the top five best ideas, and here's how we're going to do it. First, let's start with the head column. We want to check the box for any idea that just simply makes sense, that it's logical, that you can see the numbers lining up. Now, before we were just throwing crazy ideas and we weren't editing anything because we were brainstorming. Now it's time to get logical. Check off the box for anything that makes sense in your head. In the next column, we're focusing on your heart. How does it feel? As an entrepreneur, you need to be excited about what you're doing. So we want to check the box for any ideas that are exciting or interesting, or that you're passionate about. Complete this process for the full list. If you don't know fully the answer or whether it makes sense in your head or your heart, just put a question mark. Now what we're looking for are any ideas that don't both check off the head column and the heart column. For any idea like that, strike it off the list. We need both your head and your heart engaged in entrepreneurship. Then finally, we're going to rank however many ideas you have left. This should get us to somewhere around the top five. From these top five ideas, we're going to evaluate and figure out which of these have the best likelihood of success.

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