Don’t turn that idea into a new business until you’ve seen this checklist
We’re living in an era of start-ups. Every other person is looking to start a new business and become an entrepreneur. But more than 80% businesses fail to survive their first 18 months. Nobody knows if your business will work or not; there is no formula or method which can help you find out that your idea has the potential to be a great business or not. However, there are certain factors that you need to check on, before you invest your time, money and energy into your idea. Here are some observations and necessary things you should keep in mind before starting a new venture. 1. Timing Out of many factors, including idea, funding and team, timing is the most important factor that you need to check. Great ideas have failed only because they started before time or they were too late. It’s the timing that decides your company's future. YouTube , for instance, was not the first video sharing platform. There were a few before that, but due to bad broadband penetration i