Results Show that the Quality of New Business Ideas do Not Matter

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The quality of new business ideas do not matter. Do you have an idea for a new business? Is it any good? Tomer Yogev, a leading authority on startup and small business strategy says it really doesn't matter if it is good or bad. The co-founder of TandemSpring, a strategy consultancy for startups, small businesses, and non-profit organizations in Chicago has helped dozens of startup businesses and budding entrepreneurs turn their ideas, both good an bad, into successful businesses. Find out why you should stop obsessing on the quality of your idea, and focus on more important aspects of your new business plan.

The quality of a new business idea rarely matters. This from Tomer Yogev, a leading authority on startup and small business strategy. “If business history teaches us anything, it is that success hardly ever boils down to just the ‘quality’ of the idea,” says Yogev.

With the economy improving, people are increasingly looking to leave unsatisfactory jobs and start their own businesses. But, many are stuck on the ideation phase. “Business success comes from two things: execution and being the right person to bring the idea to the world,” says Yogev. “What I tell anyone who wants to know if they should pursue their idea or not is, ‘I'm sure your idea is fine. The questions you should be asking yourself is how will you make your business successful and are you the person to do it?’"

Since co-founding TandemSpring (http://www.tandemspring.com), a Chicago-based consulting organization for startups, small businesses, and non-profit organizations, Tomer has consulted countless people wondering if they should take the leap and start their own business or non-profit, and if so what the next steps would be. As he points out, however, most are stuck on if the idea is good enough and rarely get past that.

“Remember the 'Pet Rock’?” Yogev asks. “What a terrible idea! But, it was extremely well executed and ended up being a viable business. Granted, it’s no Google, but it definitely was a business idea that made money.”

He notes that the quality of the business plan and having the right skills and connections to make an idea successful are much more important than the idea itself.

“It is near impossible to say one idea is good while another is bad. We all have that friend who shouts at commercials that they thought of it years ago, or whatever other claim they make. The only thing that usually separates our friend from the successful entrepreneur is effort,” says Yogev.

So, how does one know if their business plan is any good and if they are the right person? According to Yogev, it is simple, “Just ask,” he says. “Most people love to pick apart business ideas. Find intelligent, critical people, and let them poke holes in your plan. If you can fill those holes, you might be on to something. If not, you may want to reconsider your approach.”

“As for if you are the right person or not, that is always tough. It usually comes down to doing some real soul searching. The fact of the matter is, regardless of how good your idea and plan are, you are going to spend many long nights, tons of effort, and possibly a fair bit of money on getting your business off the ground. If you are uncertain about your commitment, you may want to consider bringing in others to help keep you motivated.”

Yogev points out that business ideas come to people all the time. “They come while we’re driving or in the shower, but we so often dismiss them out of hand. People should really stop doing that.” He insists that if people stopped obsessing on if their idea is good enough or not, but rather spent their efforts on building a plan and analyzing their possibilities, they would not only be more likely to actually pursue their idea but also be much better prepared to launch the business as well.

For more information on how to turn your ideas into a business, or to contact Tomer Yogev directly, please visit http://www.tandemspring.com.

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