A go-it-alone business allows you to take advantage of your unique skills and do what you do best. This chapter explores how you can develop winning business ideas and assess whether these ideas appropriately match your skills. You may have a terrific business idea but be absolutely the wrong person to execute it. To succeed, your idea and the skills required to turn the idea into a success must align. This may sound self-evident. Nonetheless, many would-be entrepreneurs fail because they get caught up in the excitement of a “good” idea, without fully considering the skills needed to bring it to life.
This chapter is divided into three parts: The first—“Choos-ing Your Business Idea”—expands on methods for finding valuable business opportunities. The second—“What Do You Do Best?”—explains and explores the idea of core competency as it applies to go-it-alone entrepreneurs. The third—“Does Your Idea Fit with Your Core Competence?”—then describes methodologies for analyzing the fit between your unique skills and your proposed business idea.
CHOOSING YOUR BUSINESS IDEA
There’s Nothing Like Experience
Earlier, in “Good Ideas Are Everywhere” on pages 14–16, I discussed a primary source of ideas for go-it-alone ventures: The