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Wednesday, June 24, 2009

how do you decide whether something is a good bet or not

Just a very short note on this for the moment. Not because this is unimportant - quite the reverse. I'm simply under some time pressure at present.

Don't believe your own PR. Ask yourself the hard questions. And / or get someone else's opinion too. The time to find out hard truths is at the begining of a venture, not after 2 years+ of hard grind, blood, sweat and tears.

So do the research. Analyse market needs. Ask yourself - is your team and your technology REALLY good enough?. Get a second opinion. And a third, if you are still not sure. Make sure it is independent advice. Consider the timing of the market, the dynamics, and the likely returns in the short and longer term. Does the venture still excite you - and others? Would investors be interested in this proposition? What should your Go To Market plan be? We do this at Concept to Market www.concepttomarket.co.nz all the time.

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