Indecision in Entrepreneurs: How To Overcome Too Many Ideas

[Video transcript]

Hey what’s up everyone this is Alan and today I want to share how you can overcome something that plagues all beginner entrepreneurs: indecision.

This one is for those of you who have too many ideas and find yourself paralyzed with indecision or making a snail’s pace progress on each of the several ideas you’re working on concurrently. 

First, I want to set in a couple of realities, and to be honest, it may sting. But, it only stings because deep down, you know it is true.

The first reality is that if you’re trying to work on several business ideas at once, only two things can happen: 

1) You’re really not doing anything at all. You’re just dreaming and writing things down on your scratchpad. Or talking to your friends about it. And then at the end of each week, you find that yet again you haven’t worked on anything and make excuses to start it next week. What do you think next week looks like though? I’m pretty sure you’ve lived that replay many times before…

Or 2) You’re working on a couple of ideas and you find that your progress is minimal. You have trouble landing that first paying customer. So then you resort to doing seemingly productive tasks like making logos for your several “businesses”.

Don’t worry, I’ve been there too 😉

Is your idea worth a million bucks?

Now, another reality I would like to set in is something you’ve heard before but perhaps haven’t fully absorbed or accepted yet and it is that ideas don’t mean diddly squat. We ALL have multi-million dollar ideas, but the rewards don’t come if you don’t execute on them. 

In the last 10 years, I’ve had a bunch of people pitch ideas to me, BUT the ones that were instantly ignored were the ones that asked me to sign a non-disclosure agreement (NDA) before sharing more about it. 

Imagine if you were to go into Shark Tank with the same mentality…

[SKIT] “Hi Sharks, my name is Alan and I’m seeking a $100k investment for 10% equity of my idea. However, this idea is so great, untapped, and I BELIEVE has such incredible opportunities for you that I will need you to sign an NDA before I begin. I will pass those around now.”

Sharks: “I’M OUT!”

With those realities settling in and you find yourself with a moment of clarity right now, I want to help you with a solution. 

My advice is that you simply CHOOSE ONE idea and aim your focus on validating it. Targeted focus on figuring out whether your business idea is a solid one or not will give you the progress you’ve been craving. 

And by just focusing on one business idea, you’ll also find that some REAL movement is better no movement. 

But you may be wondering, “How do I choose one? I have so many good ones.” 

My answer is that you can choose based on your personality. 

For example, are you a patient person and you can wait a few years for success to come to fruition? If so, then you can choose out of your options on what you believe will bring the BIGGEST LONG-TERM IMPACT in terms of leverage for building up your audience and customer base. 

An example would be what I’m doing here with my personal branding in sharing the Freedom of Choice lifestyle on my YouTube channel and Instagram. If I’m expecting quick results because I’m impatient, then I might as well close up shop now. 

However, in choosing this route, it is a 3-5 year plan that I’m perfectly OK with waiting to see how it all unfolds because I believe that it will play out as a big impact from a business perspective.

On the flip side, if your personality is more impatient and you need to see the results as quickly as possible in order to keep going, then you choose the business idea you have that will allow you to launch the FASTEST in grabbing your first paying customer. 

And the win here is usually service-based businesses. You can practically get this up and running overnight and focus all of your attention on grabbing your first customer. 

Then, each incremental paying customer will keep you moving.

So what personality type are you? Are you patient where you can choose the business idea that can cause the BIGGEST LONG-TERM IMPACT? Or would you rather see the FASTEST results NOW?

There’s no right or wrong, it is really up to you. In the Freedom of Choice lifestyle, it is all about operating within the strengths of your personality. 

Quick tips on “lost opportunities”

Alrighty, I want to wrap up with a quick hard-hitting flurry of advice that you can always come back to within this video in case you get caught up in your whirlwind of business ideas and the indecisions around it.

An objection you may have when I say you have to just choose ONE to start is that all of your ideas are good so it’s like a lost opportunity if you don’t go for all of them. Trust me, you won’t succeed because your most scarce resource is your time and if you’re working on even two business ideas to start, you’re already too scattered.

Remember that ideas will always continue to come to you, so you don’t have to feel like it is a lost opportunity if you don’t work on all of your current ideas. In fact, I can almost guarantee you that if you actually START ON ONE, better and greater ideas will come to you because you’re actually gaining experience and information by being in the trenches.

And later on, when you’ve found success in your first business, now you’ll have the cash-flow to start your next idea because you’ve accumulated more resources such as capital that can overcome your constraints like time, because you can hire people to help you execute.

Finally, I want to thank a community member with the username az_defines for asking this question about indecision. When I started on this content creation game, one of the things I was MOST excited about was getting community questions to help answer because that’s how I can contribute REAL value to you.

I love sharing my insights based on my own personal experience and hope that it resonates with some of you, perhaps even give you an aha moment, and most importantly, get you moving towards the Freedom of Choice lifestyle. 

Ultimately, the time and effort that I put into this are FOR YOU. 

That’s it for me. If you enjoyed this video, then please hit the Subscribe button below with the notifications turned on. 

This is Alan signing off and here’s to you investing in your knowledge and future in the Freedom of Choice lifestyle. I’ll see you soon 🙂

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