No More Bets: How I am choosing & weeding out ideas for my future

Background: If you remember, I had an initial idea that I sought criticism for, which I received (thanks Charcoal reader Bianca!). Upon doing some further research on TechCrunch, I learned that comment annotation tools already exist with several capital-funded companies operating in this sphere.

I will not be pursuing this idea further. Why not? Because it is a crowded market place and I believe I need to focus on a better executed idea that users want and a product that will produce value. This is not me picking and mixing, but I think you need to dump ideas when you see that the possibility of growth and your ideas may not be worth the investment. If you asked me two years, I probably would have chased this idea down, despite the market-place being crowded and my idea not offering anything new.

What are the other options?: Part of me is even wondering why I chose to do journalism in the first place. It is because I love media so much, most likely but I am more passionate about the business side. This is how I was thinking I could parlay a few ideas, and again nothing is set in stone.

1) Try and be back in London and go corporate: I have been reading a fantastic blog called Mergers & Inquisitions, a careers site for people who want to work in investment banking. I know what you are thinking, from journalism to banking WTF? I have always been really interested in finance/business, and from my initial reading of the site, it is really hard to break into but perhaps if I did go back to London**, I could try and find a communications/marketing role in a bank. This would allow me to be corporate, earn more than I ever would as a journalist and I could save money for my media company (which is one of my goals).

2) Stay in Africa and try and do my media company from this side: This is the most vague option, simply because and this might sound silly but I don’t understand how I would make the financial goals I want to reach here. This sounds bizarre, but because I am so used to London; I don’t know how I would leverage making a lot of money here. For some reason, if I had cash in the bank, I could see the logic of coming back — I just don’t know how to do it from scratch.

Another thing is the current idea I have would work in London, but I do not think it would work here.

3) Try and go back to London, start my media company from scratch there: This prospect seems most exciting to me. I’d love to go to Old Street or Dalston and build my company there, because one of my latest ideas (I think) has the possibility of working in London. I will disclose it at a later date once I have designed the mock-ups in Photoshop. When I explained this core idea to my mum and one of my cousins, they both seemed unsure — not sure of how it would work, especially here.

** = Being back in London is the end-game for me in terms of my goals. But not everything always goes to plan so the best case for me is to *God-willing* pass this MA and then make a suitable decision from there.


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