Thanks for visiting! Hopefully my blog is useful for you :)

Thanks for sharing! Yes, I, too, look up to other businesses. They have crash-test their concept, so why not learn a bit from them? Your point of look to comparables are well taken – it’s no use to copy, say, Microsoft’s marketing strategy for a 2-person software company.

Cheers!

This is my first visit and this post impresses me. I just did dig your post!

Can that good idea from one industry by adapted for another? Can their business model be tweaked for another use?

It’s one more source of ideas for both new businesses – and marketing for existing businesses. Plus, presenting a new concept with some comparable in another industry often makes the education process much simpler.

You are right about funding – this is one of the major factors why ideas fail to be realised.

Regarding idea sanity check you mention – IMO, it is necessary, but with caution – simply because the people you ask the opinion on your idea don’t always the right people to ask :) Ask a few right people might be better.

Thanks for your opinion!

Also, its often the case that many noobie entrepreneurs don’t fully research their idea before investing their own or other people’s money into their idea. It’s wise to spend as much time as possible asking the opinions of other people as possible to sanity check your ideas.