Is Your Big Idea— A Good Idea?

Money Rehab with Nicole Lapin

Money News Network

Education, Self-improvement, Business

4.6 • 1.7K Ratings

🗓️ 6 April 2022

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

The best entrepreneurs have ideas that vary from the excellent to just plain bad. Here are the five specific questions to ask yourself to see if your brainchild is a viable business idea or just a brain fart. See omnystudio.com/listener for privacy information.

Transcript

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0:00.0	Hey guys, are you ready for some money rehab?
0:04.9	Wall Street has been completely upended by an unlikely player. Game stop.
0:09.6	Ian and should I have a 401k because I don't do it?
0:12.5	No, I know.
0:15.2	I think the whole world revolves around you and your money. What a dumb shit.
0:19.7	Charge for wasting our time.
0:23.7	I will take a check.
0:24.8	I don't want to get paid.
0:26.8	You recognize her from entering on CNN, CNBC, and Bloomberg.
0:31.6	The only financial expert you don't need a dictionary to understand.
0:36.0	The cold lapid.
0:37.2	I've had hundreds, thousands of terrible ideas.
0:41.3	I mean, all good entrepreneurs have.
0:43.9	And you will too.
0:45.3	But it's actually one of the best things that can happen.
0:49.2	Why?
0:49.9	Because it's all a numbers game.
0:51.4	Only about one out of every thousand ideas is a good one.
0:55.7	And the more bad ones you have, and can identify the closer you are to your good one.
1:02.6	I've been there.
1:03.6	I have had some bad ideas for products that never went anywhere because they were bad.
1:10.4	Maybe they could have been good with the right team or the right timing,
	...

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