How do you choose between business ideas?

Feedback of your target audience very important, but also you want to choose one that you are passionate about and have an end goal, dedication is key.

1. Market Size: To understand how much we can get a share out of the existing one 2. Competition: What are the competition levels. Are they performing well in features and customer satisfaction 3. User Adoption: Do you need to manage c level people to sell you software or mid-level managers can buy it. Or is it a developer focussed community? 4. How critical it is for their business? 5. Your domain knowledge. Dont do tailoring business if you don't know how to stitch Once you figured out this, never pitch it to friends or family. Pitch it to any of those target customers group. The problem with pitching with family and friends is they sometimes say wow due to difficulty in saying bad about your idea. Pitch to a complete stranger and get roasted your idea before proceed.

I pitch it to family and friends. Then I do surveys to get out of my filter bubble and then validate the ideas. After that I'm building a MVP and then collect feedback about e.g. how this product could solve problems of customers or how much they would pay for it🚀 After that you have many data to decide whether you should move on or look for another idea!🌎

I pitch the ideas to my friends, family, and coffee shop baristas and the ones that get the best reactions are the ones I focus my attention on :)

It is important to make that decision based on feedback. If you have two ideas, mock up both and release them to a feedback group of your target audience. It could be FB, Reddit (as long as you can avoid the cesspits), twitter etc. Don't reward them, as it then skews the results. The one with better feedback, follow it, as it's a smaller, happier step to 'next'.

Good question! I do soft pitches to my friends and then weigh up passion and viability when I have passion for a project that is viable that is the one I go for.

IKIGAI! I have always found the IKIGAI framework helpful in such situations.

So let's say I have 3 ideas. I sleep on each idea and make sure they're big enough to pursue. Let's also say all 3 ideas are big. I would test all 3 ideas by mentally keeping track of how often the problem occurs in my life or how often I think about the idea. What I would do then, is try to solve the issue without coding or building a product. So this could be drawing the idea or even trying to fit the solution in the current state of technology. This gives me deep insight on what's possible and how the idea could fit in today's society/culture. Then I'll do market research and see if there are any competitors or if there is anyone that has created something similar. Finally, once I'm in a state where I understand the majority of the edge cases for the product and how it would all gel together, I'll share the idea with friends and ask them about the edge cases and see if anything sparks.

Trial and error. Every success has a hard and failure road. But never give up.

Well, it’s normal to get multiple ideas at the same time, and implementing them all together isn’t the way to get started. So when you do have these ideas do discuss it with people close to you or those who are relevant to that idea. They can tell you if you’re thinking in the right direction. But other than that, you can also reach out to the communities relevant to your idea on platforms like Reddit or Quora, or even Twitter. Also, try doing research on which idea has better chances of working out in a competitive market and would require less investment at your end.

Pitch it to your friends and family get there feedback of the projects and then do a small research on each of the projects, seeing how it would impact and be beneficial to others.

For me, I pick ideas that I'd like to use personally. I've realised it can hard to convert someone from being excited about something to actually using it. So, building something I'd use myself makes it fulfilling even if the project isn't a business success.

Prioritize based on impact to target market and implementation investment -- it's possible that one business idea could be developed in a shorter time frame, however, it may make a minimal impact to the designated audience! Whereas, something that may take a bit longer could end up being a life changer.

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