Passing by a good business idea
As entrepreneurs, you get amazed by new ideas left and right, this is to guide some current or future entrepreneurs on my thought process to pass the idea. I’m nowhere near Tokopedia founders success, but I’m sure some of you can relate.
So… a few days ago, a friend of mine approach me with an idea, an idea that I’ve been dying to solve for years… and they’re going to go at it, big time, these are the kind of people that can say let’s start a business, each put in USD $50,000 tomorrow, and have no trouble sleeping at night.
FYI, I’m a bootstrap entrepreneur, I built a few semi successful E-commerce companies that are profitable and gives me a steady income with minimal time put per week to maintain. And… right now, I’m switching my LimeCommerce.com from a web dev agency to a digital product company, all with my own money. So what’s the problem??
Well…. I’ve always been curious what is it like to play it BIG? To have managers from the start, to have multiple departments to grow in the beginning, to work in a serviced office, 30 sales person in one department sounds so cool! Have money for PR so you get coverage left and right. Find investors and sell and live happily ever after…. maybe.
In the end, I decided to pass on the idea for the following reasons:
- I already have my own thing going on (with employees to feed, monthly), and some existing business to maintain.
- I’m going to have a kid soon (super excited). Note to self: NEED MORE CASH.
- This idea will take longer than 1 year to make profits.
What if I missed the next Indonesian Tokopedia? Oh, shucks, so be it. I’ll be 99% fine anyways (they all mostly dies).
So… yeah, that was it. My advice is try not to have FOMO (Fear of Missing Out) too much. Focus and growing your own thing is always more fun. And remember,