Interesting Dilemma
Earlier this week, I was faced with an interesting dilemma that provided some very good experience in prioritizing.
As I mentioned in a post last week, my other project - the Geeks in Running Shoes podcast - is beginning to gain some level of success as I am STILL working through the prototype phase of Sportycus. So I was faced with an interesting dilemma - which of the two projects should I put more time and effort into? This was a tough one. For Sportycus I truly have an idea of where how the project could go as a business, while a clear business opportunity has not yet been defined for the podcast.
I reached out to my de facto advisors - Raman Chadha from the DePaul Coleman Entrepreneurship Center and Russ Gottesman from Commuter Advertising. I posed the question
What’s a good way to judge the amount of time that I should spend on each?
As usual I got prompt and excellent responses from the two of them. Both responses centered towards value creation. That is, which of the two projects was posed to present the most value to its potential customers in the long run because that project will eventually be the most viable business opportunity. Also, both seemed to agree that focusing on one will provide the best chance of success in growing the project.
So taking in their responses, I decided that I should remain focused on Sportycus. Sportycus is the project with the better business opportunity. I will continue to focus my time on developing the prototype and selling the idea to potential users. However, I am still continue with the podcast. It began as a hobby, and I will continue to treat it as that. If it continues to grow into something larger, I will revisit this question then.
Anyway, I hope this experience would be as helpful to you as it was for me.
