The One Reason Business Ideas Fail

Are you guilty of this number one reason business ideas fail?

They give up too soon.

Apply these 4 tips for successful innovation to ensure your next big idea doesn't fall flat:

1. Inventing is work that requires passion. Passion motivates us to persevere. Enthusiasm is essential to convince not only others of the worthiness of your ideas, but to convince yourself as well. You are going to have to do a lot of hard work before an idea reaches the point where a consumer realizes it's exactly what they've been looking for.

2. Question everything. The moment you discover your idea is somehow not working can occur at any stage on the journey. Since I know this from experience, when a new idea pops into my head, I immediately start looking at all the negatives and potential challenges. I know if I uncover problems at the beginning and can solve them, there will be fewer obstacles along the path.

3. Trial and error is a good thing. There are times when you find you have to go one more round with an idea, create one more prototype, write one more description or marketing message and it just seems endless. You feel like the juices have stopped flowing. This is when you have to “act as if” and just sit down and do what needs to be done.

4. There is no magic answer. Just as there is no one perfect way to live your life, there isn't just one way to solve a creative problem. My friend, for example, could have gone in several directions with the flavor profile of his eggnog and more than one might have worked.

Article and Image Source: Entrepreneur