|
Just curious... what are your planned core competencies? Can you post a partial outline of your SWOT analysis?
Well, one of the first things you learn in any introductory entrepreneurship course is that you should never, ever, start a business (or invest in one) just because you like the idea. It has to be first a good business decision, and secondly something you are willing and able (financially, ethically, etc.) to put your money behind. When you work backwards (like you are implying you are doing) you should be careful not to lose sight of that first requirement. Many do. When they do, they lose their business and they can ruin much of the rest of their life with debt.
This post shows that you are actively doing research before hand, which is a good sign. Just make sure you research it very thoroughly, and have a complete business plan written out (avoiding any significant assumptions) that proves the practicality before you make a decision. They are essential. Yeah, it takes a lot of time to invest in painstakingly planning out several hundred pages of technical data, but if you don't do it your business will fail, even if it had merit to begin with. If it takes anything less than several months of research and writing to make a decision, you've done something terribly wrong. Since the beginning of the recession, this has never been more true.
At face value, your idea doesn't seem practical. But if you do really want to do it, make sure your do the research. Maybe we would all be pleasantly surprised by your findings? I'm not trying to discourage you, btw. I'm just letting you know a little bit of what's involved, and how big of an undertaking this really is.
|