Have you been nursing your startup idea for a while? Are you launching and wondering if your idea is good enough?
I may be able to help you here.
Enter IKIGAI
A Japanese concept meaning "reason for being".
It’s a holistic way of finding purpose and meaning in life, which can be incredibly powerful when applied to entrepreneurship.
The idea is to find a balance between four key elements:
- What You Love (Passion)
- What You Are Good At (Profession)
- What the World Needs (Mission)
- What You Can Be Paid For (Vocation)
It's also a GREAT way to help founders assess if they are hitting the right notes with their startup.
A great way to help you evaluate a startup idea that aligns together passion, skills, market demand, and financial viability.
I've built this simple framework for you to assess where you stand today.
Let's begin.
Step 1: Do you LOVE your startup?
This is all about your PASSIONS.
What excites you and keeps you motivated.
For entrepreneurs, it means finding an idea that you’re GENUINELY enthusiastic about.
Step 2: Are you GOOD at what your startup does?
This all about your SKILLS and STRENGTHS.
Choose a startup idea that leverages your expertise.
Your unique skills can set you apart from competitors and help you excel in your chosen field.
Step 3: Does the world NEED what your startup offers?
This is all about DEMAND and RELEVANCE.
Your should aim to solve a REAL problem in the market.
It’s about making an impact and providing value to others.
Step 4: Are people willing to PAY you for your service?
This is all about the financial VIABILITY.
Can you build a sustainable business model?
It’s CRUCIAL to ensure there’s a market willing to pay for your solution.
With this, you've hit the IKIGAI bullseye.
A balanced idea where you as a founder can grow
Where passion, skills, market demand, and financial viability align to create a great space for you to thrive in.
What a sweet spot to be in.