7 questions to ask before starting a new business idea

Aditya — Sat, 07 Mar 2009 05:45:37 +0000

I learned very insightful list of questions that we should ask to ourselves before we jump to start a new business idea. It’s the list of questions that Kiran Mazumdar Shaw asks herself when she choose one idea over another while starting a new business.

Do I have the basic understanding of the area?
Do I know something about what is happening in the larger space of that idea?
How will I build the differentiation, particularly if the idea is a common product?
How do I make it affordable and at the same time deliver high value?
Wherever there is a collaborator involved in the ideation process, how do I create larger leverage through the relation beyond just that one idea?
Do I know who will be a paying customer and how I will go about marketing my idea?
Finally, do I have conviction about the idea?

Hope these questions will help us to find the next big opportunity.

Aditya Kothadiya's Blog » opportunity

7 questions to ask before starting a new business idea