How Do I Know What Idea to Pursue?

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How Do I Know What Idea to Pursue?

Hector, I have two amazing opportunities. Which should I pursue?”

I helped him analyze several strategic questions to help him clarify his path.

Examples:

  1. Capital needs & financing
  2. Profit margins
  3. Distribution strategies
  4. Differentiation strategies
  5. Strategic alliances
  6. Product innovation
  7. Marketing strategies
  8. Global outsourcing
  9. Market trends
  10. Biggest threats

To name a few…

Yet, I focused most of my time helping him understand the importance of identifying his deepest priority in his life.

“Ulrich,” I said, “we may have amazing opportunities in front of us, but if these are NOT aligned to our deepest priorities in our life, we will never achieve success. Do you know what do you want?”

“I want to be an entrepreneur,” he said.

“That’s not your deepest priority in your life Ulrich, go to a deeper purpose.”

“I want to achieve success!”

“That’s not it, Ulrich!”

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“What do you mean Hector?” He asked impatiently.

What’s your DEEPEST PRIORITY in your life? You need to know this because many of your future decisions will be unconsciously influenced by such priority!”

“Hector, I don’t have a clue!”

“You’re starting this business with the wrong priorities Ulrich! You’re asking me to help you identify which is the best idea to pursue and you don’t even know what you want?”

Please help Hector.”

I explained, “We all have a life motivation. Is it making money? Social recognition? Feeling valuable? Power? Significance? Acknowledged? Contribution? Serving God? Having fun?”

Why is that important?” Ulrich asked.

“Every difficult decision you make in the future will be influenced by this deep life motivation. If you dont identify this early you will have a bumpy road ahead and will affect your life and business success.”

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“Hector, could you give me an example?” Ulrich asked.

I explained, “What’s the difference between a corrupt government official and an honest one? Even while they are both in the same job, they are influenced by different life motivations, and that reflects their ultimate actions. One wants to serve and contribute to society, the other wants selfish money and power.”

“Seems like I have a big homework, Hector! Thanks for your guidance!”

To answer the question…

Do you know your deepest “why” you’re starting this business? Aligning your business towards this life motivation is the first critical step and will determine what you will ultimately accomplish.

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