Proper planning is more than half the business done:-
Before investing your time, energy and resources towards the execution, spend your maximum effort towards proper and exhaustive planning and research.
Sweet Spots for Innovation - The blueprint of the business must be tested very strongly against the following parameters:-
1. Desirability - A desirable solution, one that your customer needs. Desirability tests whether your innovation is solving the right customer problems.
2. Feasibility - A feasible solution, building on the strengths of your current operational capabilities. Feasibility tests whether your innovation strengthens your business
3. Viability - A profitable solution, with a sustainable business model. Viability tests your value-chain for long term sustainability.
4. Sustainability - A sustainable solution imparting stability in the long run. Learn and begin the roots of your business according to the PESTEL Analysis.
5. Scalability - Scalability determines the systems to be simple, duplicable and the critical resources must be readily available.
6. Diversifiability - Diversifiability is the ability of the business or the platform to add more offerings to its existing portfolio and develop a business model. It tests long term success and increasing profits.
7. Attractiveness - Determines the Return of Investment one may obtain by investing in your business.
Based on the parameters above I have achieved success in building an aggressive start-up with a conservative approach.