Page 45 - The 7 Day Startup: You Don’t Learn Until You Launch - PDFDrive.com

Day 1 - The 9 Elements of a Great Bootstrapped
Business Idea

“The world always seems brighter when you’ve just made something that wasn’t
there before.” Neil Gaiman

As I’ve previously mentioned, it’s not helpful or accurate to suggest that ideas
don’t matter.

There are a lot of things that matter in making a successful business:

1. The Idea Matters - A bad idea, executed well, will not make a good
business.

2. Execution Matters - A good idea, executed poorly, will not make a good
business.

3. A Founder’s Ability to Get Customers (To Hustle) Matters - A great idea,
executed well, will fail without customers.

4. Timing Matters - Speaking hypothetically about an idea is pointless if the
timing is wrong.

5. Luck Matters - In fact, it matters much more than most entrepreneurs would
care to admit.

Your idea matters. At the same time, you don’t want to stress over it for weeks
on end. In fact, you should spend just one day on it.

The beauty is that you can always change your idea once you start learning from
real customer data. This isn’t politics. Backflips are highly encouraged in Startup
Land!

If you only spend one day on your idea, you’ll be more open to changing it if
doesn’t work out.

You might already have some ideas—you might hear people complaining about