Dharmesh Shah breaks down how to pick a business idea: size of potential impact, probability of success, and how well it matches your expertise. The three factors need different weight depending on your risk tolerance and career stage.
Do you wanna start a business? In the next 30 seconds, I'm sharing a simple 3-part framework to find the best idea for you. First, consider the potential for the idea. If you're successful, how big could it be? Next, look at the probability of success. Even if the idea has huge potential, you need to gauge the chances of it actually happening. Finally, look at your proximity to the idea. How close is it to your expertise or passions? Working on something you love or know well increases your chances of success. All right, now the most important part. You have to balance these 3 factors based on you, your tolerance for risk, career stage, and personal preferences. Let me know what you're thinking of starting in the comments.
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