Hi guys,
after reading the Fastlane book, I found it very informative and inspiring. Some great information in the book that I liked were the sections on business passing a basic litmus test. Business has to have the following:
1. have a legitimate need
2. barrier to entry
3. control of the asset
4. scale
5. can run with little no time once its going
These are all real good to put an idea through the ringer. But I was wondering, what if you have several ideas that pass these tests? how do you go about narrowing it down? Is it simply a matter of numbers? (like idea A and B can both scale, but A has slightly more magnitude etc.) How can you take into account some of the other variables? (idea A has more magnitude than idea B, but idea B has resources that are easier to obtain than idea A etc.)
I am wondering what process you guys use to narrow down all the great ideas you have, into a real short list (or one- focus right!?) of ideas to then go ahead and execute on?
any help would be great!
-Ty
after reading the Fastlane book, I found it very informative and inspiring. Some great information in the book that I liked were the sections on business passing a basic litmus test. Business has to have the following:
1. have a legitimate need
2. barrier to entry
3. control of the asset
4. scale
5. can run with little no time once its going
These are all real good to put an idea through the ringer. But I was wondering, what if you have several ideas that pass these tests? how do you go about narrowing it down? Is it simply a matter of numbers? (like idea A and B can both scale, but A has slightly more magnitude etc.) How can you take into account some of the other variables? (idea A has more magnitude than idea B, but idea B has resources that are easier to obtain than idea A etc.)
I am wondering what process you guys use to narrow down all the great ideas you have, into a real short list (or one- focus right!?) of ideas to then go ahead and execute on?
any help would be great!
-Ty
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