First of all – entrepreneur; what does that mean exactly? A person who starts a business where there was none before? Definitely, being a challenger of the status quo is key along with the trait of being a keen observer. After that, it’s about making well spun, well targeted NOISE about what you do. It’s not much good being a change-maker if nobody ever gets to hear about it, or is interested enough to want to buy it. So my definition would be; Entrepreneur = innovative thinking + marketing.
The biggest failure with start-ups is usually in commercialising the concept or more simply, in not finding enough customers to justify the business. There may be a business, but is it really a sustainable, long term business? Is your passion for your business idea clouding your judgement?
One good way to address the subjectivity issue is to set out your plan on paper.
This is not for your grant or bank loan application but it may form the basis for the financials and strategy that feed into them.
It’s mainly for you to decide if your idea is good enough.
Don’t answer these in your head.
Get a piece of paper and write them down.
Try to complete it in one sitting.
If you can’t complete it or are you missing key information, update it when you can.
Or better, realise that you haven’t thought it through properly.