Indecision can be destructive to your success.

Entrepreneurs in general are a creative bunch. You probably have many … dozens … perhaps even hundreds of interesting business ideas. Yet even when you are quite clear about what is important to you, choosing between multiple brilliant ideas can be difficult. You may feel like your ideas are all so brilliant it will be impossible to choose just one. Fear of missing a better opportunity can cause debilitating indecision.

Think about This

Who you are at your core is important.  You have values that define you.  And you have a life full of people, responsibly and expectations; you do not want to disappoint anyone.  So, stop and think about these things.

Your Passions

What is it you will do, willingly, joyfully, consistently day after day, hour after hour.  To answer this question, you need to know yourself.  Are you a people person, a nerd, an animal lover?  Where do your passions lie?

Your Skills

What can you do?  Don’t limit yourself to only what you believe you can do. Think also about what you know and the experiences you’ve had.  Do not set your standards too high.  You do need to have working knowledge of your potential industry but, in truth, you only need to know more about your product than the people you serve.

Lifestyle

How do you want to live? Refer to your values.  Do you want to be location independent, traveling the world; working from Rome and Rio?  Do you want to work from home in your pajamas with your cat on your lap? Or is your vision more about Armani suits, power lunches and an office with a view?  Here at the beginning of your business building process, you are free to choose the lifestyle you want.

Money

How do you want to begin?  Are you a risk taker willing to reach out for outside capital in the hopes of a big win, or would you be more comfortable starting small, reinvesting your revenues and allowing your business to grow organically?

And Then What?

What is your exit plan?  What you are building will have value.  What will you do with that value? Sell it to someone willing to run it day to day while you go off to build another great idea? Or make this business, the one you built that fits your values and your life choice your lifelong income?

These are all important things to think about.  But don’t let this decision freak you out.

Relax! This is not a marriage. When you choose one idea with strong potential, you are laying the foundation for many possible businesses to come. Get this one right, and the next one will be easier.

My book From Vision to Decision: A Self-Coaching Guide to Starting a New Business will help you think through these things and more.  Check it out.

Photo by Bennett Dungan on Unsplash