Remember why your big idea is there... Do your due diligence on a competitive landscape. By Clare Munn (Founder & CEO, The Communication Group)
Today — it is becoming more obvious to me that female entrepreneurs come in any age and are in every industry.
My first advice for these women is when you have that big ‘aha’ idea - really remember why it is you had it. Your idea could have come about because there was a particular product or service you needed. Or was it because people kept asking for it and couldn’t find it? It could have simply been something that you just dreamt up. There are certainly many other possibilities that can deliver a person to a new idea but those are the basic three.
Remembering the nuances of why you came up with it and looking at the value of it is only the first part.
The second is really making sure other people find your idea relevant to them. Not all people will have to like your idea but do make sure that you have a target audience who will care about it. It is also important to be sure that you care about your product and see the use of it. If you believe that you are too good for it and it is only for others, I would guarantee that 9 times out of 10, that type of thinking will not work.
The third task is to do your due diligence on a competitive landscape and make sure that other people haven’t already come up with your idea. You can do this fairly easily though Google search or trademark and patent searches for a deeper dive. This will provide validation that there is an opportunity and your idea is different and unique enough to make a splash in the world. If this does not turn out to be the case, you must not lose hope. This is a time to sit back and congratulate yourself on having the huspa to come up with an idea and dream it on the market.
As you are on any new professional venture, make sure to always find a balance. I say that with tongue-in-cheek as it can be difficult for me to do this, but I try my best to maintain a healthy work-life balance; I work hard and I play hard. I am very grateful to my eccentric parents for teaching me how to play and I really know how to play. I find my balance because I love what I do and most of the time I find what I do to be playful. I also take time off and sleep well. Take care of yourself; every entrepreneur burns the candle because it’s what is in us. We are driven.
Editor's note: Got a question for our guest blogger? Leave a message in the comments below. About the guest blogger: Clare Munn is Founder and CEO of The Communication Group. Clare was instrumental in raising over $25M for Playback Media and Employment Law Training Inc. – the first multidimensional, online site for compliance in 1997 still being used today. She grew up in Zimbabwe, traversed the world of design and technology, and is now leveraging her knowhow into CQ™, a personal theory to help express and receive amongst different communication styles. Follow her on Twitter at @ClareMunn.