2 business ideas....

RedXIV

Hi Guys,

I've got two ideas bouncing around in my head for potential projects but I'm wondering should I shelf one?

Has anyone tried to do two at the same time before? I don't think for the first while I'd need to dedicate all my time to one but i'm probably biased about my ideas

Any insights?

Cheers

ssbob

RedXIV wrote: »

Hi Guys,

I've got two ideas bouncing around in my head for potential projects but I'm wondering should I shelf one?

Has anyone tried to do two at the same time before? I don't think for the first while I'd need to dedicate all my time to one but i'm probably biased about my ideas

Any insights?

Cheers

Hey there,

I have never tried two personal business ideas @ once however I am currently holding down a full time job while trying to grow something small on the side, it's very tough to give 100% to both.

If I were you I would give alot of consideration to both then choose one to run with or maybe you need a business partner to come in on this with you.

You could have 20 different businesses in the long run but my advice is to start 1 at a time, launching a company totally consumes you, or it should anyway or your not doing enough!

Mozart1986

There is such a thing as a portfolio entrepreneur. Often you have put loads of time into one thing and you get stuck in a lull, where you just don't know where to go. Its good to have something else to concentrate on so then you can go back to your main business with a fresh mind. As long as you're concentrating on one at a time you can manage two prospects for a while. You'll find the one that is really viable will consume you more. If you don't know which that is then go for both.

calahans

RedXIV wrote: »

Hi Guys,

I've got two ideas bouncing around in my head for potential projects but I'm wondering should I shelf one?

Has anyone tried to do two at the same time before? I don't think for the first while I'd need to dedicate all my time to one but i'm probably biased about my ideas

Any insights?

Cheers

You could start on one while researching the market on the other. You should not start something just because you can. Do you market research up front!

Sugarfree

RedXIV wrote: »

Hi Guys,

I've got two ideas bouncing around in my head for potential projects but I'm wondering should I shelf one?

Has anyone tried to do two at the same time before? I don't think for the first while I'd need to dedicate all my time to one but i'm probably biased about my ideas

Any insights?

Cheers

What is the idea? I'll be able to help out better then.

RedXIV

Thanks for the advice so far guys. both are still at the "would this actually work" stage so am doing research on both but I think i'll do as above and keeping going with both until I find out if either if viable.

Sorry about being close chested about it, but if I'm correct, its a very easy idea to take and its just a matter of getting there first

Sorry!

91011

RedXIV wrote: »

Thanks for the advice so far guys. both are still at the "would this actually work" stage so am doing research on both but I think i'll do as above and keeping going with both until I find out if either if viable.

Sorry about being close chested about it, but if I'm correct, its a very easy idea to take and its just a matter of getting there first

Sorry!

Only 2 ideas??? - You should be able to bouce 3 /4 ideas around and reasearch them once they're in similar fields. - Then these ideas move on to form other ideas and then one day the final grand idea comes and this is the one you go forward with.

Basically any entrepreneur should be throwing ideas around all the time - even just to keep the head busy or to understand a competitor.

I'd say I seriously do the workings on 3 / 4 concepts a year and if I bring one to market every 2 years, it will be good even if its a bolt-on to one of the businesses I currently run.

Mozart1986

91011 wrote: »

Only 2 ideas??? - You should be able to bouce 3 /4 ideas around and reasearch them once they're in similar fields. - Then these ideas move on to form other ideas and then one day the final grand idea comes and this is the one you go forward with.

Basically any entrepreneur should be throwing ideas around all the time - even just to keep the head busy or to understand a competitor.

I'd say I seriously do the workings on 3 / 4 concepts a year and if I bring one to market every 2 years, it will be good even if its a bolt-on to one of the businesses I currently run.

Exactly!

RedXIV

91011 wrote: »

Only 2 ideas??? - You should be able to bouce 3 /4 ideas around and reasearch them once they're in similar fields. - Then these ideas move on to form other ideas and then one day the final grand idea comes and this is the one you go forward with.

Basically any entrepreneur should be throwing ideas around all the time - even just to keep the head busy or to understand a competitor.

I'd say I seriously do the workings on 3 / 4 concepts a year and if I bring one to market every 2 years, it will be good even if its a bolt-on to one of the businesses I currently run.

Ah well in my defence, I've already got a full time job, a 6 month old and 6yr old to deal with. The ability to have time to do ANYTHING after that is a privilege

I'm no longer a full time entrepreneur so I have to work with the time I have

RedXIV

RedXIV wrote: »

Ah well in my defence, I've already got a full time job, a 6 month old and 6yr old to deal with. The ability to have time to do ANYTHING after that is a privilege

I'm no longer a full time entrepreneur so I have to work with the time I have

You might not be a full time entrepreneur but an entrepreneur you certainly are juggling that and looking to start something!

RedXIV

Deleted User wrote: »

You might not be a full time entrepreneur but an entrepreneur you certainly are juggling that and looking to start something!

Can't help it, glutton for punishment :pac:

tombull82

91011 wrote: »

Only 2 ideas??? - You should be able to bouce 3 /4 ideas around and reasearch them once they're in similar fields. - Then these ideas move on to form other ideas and then one day the final grand idea comes and this is the one you go forward with.

Basically any entrepreneur should be throwing ideas around all the time - even just to keep the head busy or to understand a competitor.

I'd say I seriously do the workings on 3 / 4 concepts a year and if I bring one to market every 2 years, it will be good even if its a bolt-on to one of the businesses I currently run.

Bang ON. I constantly juggle 3~4 idea's but fall flat on my face when it comes to funding them.

So now I have an Idea's file with multiple idea's until such times which I can afford to transfer paper idea's to working idea's.

As with RedXIV I am also in the Trap of Full time employment, Coupled with a chronically sick wife and an 8, 3 and 1.5 year olds.

Man life is tough. (For Now):D