What makes a business idea successful?

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”Would you like to win 10.000 € with your business idea?” This is a sentence I have repeated hundreds of times in the last weeks. That’s right, it was the application period for annual business idea contest, Willi Idea. This year the prices surpass the previous years: The winner will get 10.000 € and between applications from students, one MacBook will be given randomly. We tripled the applications from last year, and maybe not the least because of great prices. But this got me thinking: does it really take tempting prices for us to find the courage of revealing our business ideas?

When we were promoting Willi Idea, the most common answer was “my idea is not good enough for a competition”. Don’t worry, we have professional jury to judge the ideas, so you don’t have to. Oh and the other of my favorites: “I don’t want to give my idea away”. Yes I am talking to you, every Finnish reader. Trust me, the same idea has occurred for other people also. So how do you really know if your idea is bad or unique? By doing something with it. Basically doing anything with it leads to at least some outcome, while endless planning and keeping it a secret will not.

So what’s stopping us trying every crazy idea we come up with? From my experience, it’s the fear of failing. No one wants to fail commercially or in front of other people. So how come all the famous and successful people did it without failing? They didn’t. Actually, they failed a lot. Here is just a small sample of world famous failures. So you see? Failures are actually a mandatory on the road to success. So the sooner we all learn to fail, the sooner we have the courage to try. And why not take it even further, like Supercell and celebrate failures!

So every time you have an idea, you meet an investor, come across a business idea competition or a LUTES event fits your calendar: take a chance! You might fail. But anything else can happen too. I will leave you with one of my favourite TED talks that conveniently fits this topic. And on 25th November, come to see Willi Idea finalists taking their chance. Maybe next year it will be you?

– Caro