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I love reading stories about what inspires people to start companies, write books, come up with new products. Two areas interest me the most: Where the idea for a company comes from and what factors go into the decision to actually do something about it.
Here’s my (by no means exhaustive) list of factors that influence the entrepreneur’s decision to actually do something about a new business idea:
- Satisfaction with current job/career.
- Sustained excitement about the idea.
- Being qualified to execute on the idea.
- Time. Turning an idea into a real product or a company is extremely time-consuming.
- Naivete. I hate to keep harping on this, but I think it is crucially important for entrepreneurs to have a degree of naivete about what lies ahead.