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3 Expert Tips for Turning Your Entrepreneurial Idea into a Business

Submitted by Marijuana News on Thu, 10/06/2016 - 10:19

One question Brad Feld gets a lot is, “Is this a good idea?” It’s usually asked by a prospective entrepreneur seeking to validate an idea. Feld, the cofounder of Colorado-based venture capital firm Foundry Group and an accelerator called Techstars, usually directs the budding entrepreneur to material on launching a business, but inevitably, the question returns: “Yeah, but is this a good idea?”

The experience eventually led Feld to partner with Sean Wise, a professor of entrepreneurship at Ryerson University, to write a book released earlier this year, Startup Opportunities: Know When to Quit Your Day Job. The book provides a framework for would-be entrepreneurs to better identify and understand opportunities, drawing from previous works such as The Lean Startup by Eric Ries.

Feld and Wise put forward a few counterintuitive concepts in the book. For those thinking of launching a business, keep these tips in mind.

IDEAS ARE WORTHLESS

“The...

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