Having spent the last 2 years plotting business ideas and dreaming of the day I would resign I have finally given notice and am preparing to begin pursuing my dreams.
However I have reached an impasse with regards to which of my 10 or so business ideas to pursue.
Fundamentally looking at my ideas they seem to boil down to one of two categories.
- Ideas that meet a very specific niche and would require significant investment from competitors to enter the market but will take a significant software development effort on my part to implement; however these ideas seem to have the potential to grow to very large sizes and compete in very large markets that are usually willing to pay allot (ie: business customers).
- Ideas that have a much broader market appeal, can be implemented in short spaces of time but do not have a large barrier to entry from competitors and possibly no great or obvious monetization path (ie: public consumers).
My background is very much in the engineering side of things so my tendency is to want to create a piece of software that would be interesting to design and develop but the other side of me says that if I can build something quickly I can quickly see the results (or lack thereof) and move on if need be or potentially build multiple 'things' at the same time.
So what is generally the recommended path when considering such plans? Any input would be sincerely appreciated.