Michael Gerber's Second Standard of Your Strategic Objective--An Opportunity Worth Pursuing

In my own mind, when I think about starting a new business, the first question I ask myself is "Is this an opportunity worth pursuing?"

One thing you should not emulate in Gerber is his capitalization strategy. :-)

It was the first question my dissertation advisor made me answer when I started my Ph. D. dissertation: Is this a topic that matters enough to me? Do I have the passion to see it through? Can I get it up for the years it will have to commit to it to make it work? Can I endure the periods of low sales and no income to do it.

Here we have the same question. Is this an opportunity worth pursuing. In his words [p. 153]:

An Opportunity Worth Pursuing is a business that can fulfill the financial standards you've created for your Primary Aim and your Strategic Objective.

Is this sufficient for you to devote the time and energy and money you're going to have to devote to it to make it work?

Do you expect sufficient payoff at the end of it for it to matter?

Are you going to change the world, or just go across the street for a sandwich?

If you're out to change the world, and you're sure the world can be changed, and you're convinced you have the staying power, go for it.

Otherwise, you want mustard on that?

What do you think of this? The goal is to produce more skilled entrepreneurs. Does this help? Tell me. Post a comment. I'd like to know. And follow me on Twitter.com

Entrepreneurship informs all of my professional activities. Entrepreneurial ideas are their life's blood. For my ideas on entrepreneurial real estate go to www.yourstopforrealestate.com/blog and for my ideas on writing and publishing, go to www.kearneymusicschoolmurders.blogspot.com.