We firmly believed that having a good idea is the starting point, then execution as per plan. We thought success will follow. So we sat down to jot down all ideas that we had. Then we short listed some of them based on self evaluating criteria like:
- our core strengths
- our knowledge/ experience in that area
- idea potential, market
- capital required
- time take to go to market
- Our network, etc.
After we short listed to three ideas now we thought was the time to decide.
We honestly assessed our personal situation: our financial commitments, our personal responsibilities, etc. Then we asked ourselves few critical questions:
- Can we do it?
- Are we willing to sacrifice?
- Is this the right time considering our family responsibilities?
- How much time should we give ourselves?
- What are our goals?
- Is our strategy correct?
- What if we fail?
For some we have clear answers, but for some we did not. We went ahead anyway. Why?
We decided that rather than live with ‘What if…’ it is better to live with ‘We tried but failed…’.