My idea is for a cloud-based web application aimed at undercutting/replacing current enterprise desktop applications which currently exist in my industry/profession which help with data analysis and decision making. More recently, licensing restrictions have hampered the sharing/distribution of the software to a point in which it is restrictive to use between multiple offices (the most commonly used software is locked to individual users on ONE computer), while at the same time licenses are prohibitively expensive in terms of cost. Bottom line, the software vendors have expensive products which have been slow to adapt to changing market conditions. Is it a fool's errand to take on an established industry? Is it possible to undercut the traditional enterprise software model with a highly portable (cloud-based), low cost product to drive? Will established competitors simply replicate my idea, rendering my development work moot? Do I research the web technologies more right now (I have some good ideas)? Do I write a business plan first and try to get advice on how to proceed from there? Help! Don't mind all my questions, I'm new to this. Thanks!
Your enthusiasm and sense of urgency both come through strongly in your question...
And your enthusiasm is awesome! But I'd recommend you slow down a bit regarding a search for how to develop the idea.
Almost every new entrepreneur starts with "I have an idea for a product..." and unfortunately that statement usually also leads them down the proverbial rabbit-hole.
I'd strongly suggest you find a coach / mentor to help you work your way through this critical time. I've personally been down that rabbit-hole and learned that even the best product can go nowhere with the Ready-Fire-Aim approach.
Your questions indicate you are overwhelmed and not sure what steps to take. I'd warn you to be wary of anyone offering a "blueprint" or "solution" they can sell you that suggests they can make it easy for you.
The journey you are (potentially) about to embark on is no easy journey. But you should rejoice in that challenge. Remember - no risk... no reward.
It's a delicate balance - keeping your head in the clouds but your feet on the ground. But that's something every entrepreneur with vision has to contend with.
Give me a call - I can help you work through this initial stage.
In any case - I sincerely wish you the best of luck as you move forward!
Answered 10 years ago
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