Delusion 1: Investors decide to fund you because of your idea
Delusion 2: My idea is truly unique
The world currently has 7 billion people, including 90 million in Vietnam alone. Do you think there is 1 idea that only you have thought of?
The fact is,
1. “A Plan Need Not Be New, Only Effective”
2. When discussing ideas and uniqueness, do not rush to assess originality. What needs assessing is feasibility and the value it brings [Advice from YUP]
3. There is even a famous US-dollar billionaire who does business with ideas ALREADY on the market. The key is better execution. Do you know who that is?
Delusion 3: Planning too much
Planning is good. It can help you outline the steps needed for effective business operations. However, too many plans and intentions may distance a project from reality and prevent it from generating profit. Make one plan with a specific implementation process, then apply it immediately in practice.
Should the truth perhaps be:
1. Set goals by this principle: the farther away the goal, the fewer details. Immediate goals must be SMART.
2. A plan needs to retain some essential “room for flexibility” to change and adapt to circumstances
3. Eliminate statements or thoughts such as: “Of course, when we do it, we will…,” “We'll somehow…”
Chương trình liên quan tại YUP Education: X-Startup – khóa học khởi nghiệp «Khởi Chánh Nghiệp» · The Journey – lộ trình phát triển doanh nhân
