I have trouble tracking business ideas that I come up with. I forget to write them down or share them with someone. I believe that as you share your ideas with someone they either get better or just discarded. This is a very useful process for any entrepreneur.
For that reason I have decided that I’m going to track my ideas via my blog. From now on, I’m going to transform this blog into a collection of business ideas. Some of them will be really promising; some would be just a basic idea. Given that I’m a consultant I’m going to use a simple framework to organize these ideas.
The framework is as following:
Need: Description of the need that the business idea is trying to satisfy.
Description: How is the business idea satisfying the need?
Potential: A very rough approximation for market potential (customer base, size, or something else)
Let’s see how it goes.