I’m sure I’m not alone in experiencing a flood of ideas and feeling the urge to dive into each one immediately. It’s tempting to get excited, do little research, and spend hours or even days dreaming about potential projects. Sound familiar?

In the past, I used to jot down my ideas and, if one lingered in my mind for just a day, I would dive headfirst into it. I’d quickly check to see if someone else had already pursued a similar idea. Even if I found existing solutions, I’d convince myself that mine was superior. This usually led me straight to my design and code apps, eager to get started.

As you might guess, this approach often led nowhere. I invested significant time and money into projects that had little chance of success simply because I wasn’t adequately prepared. However, this process taught me invaluable patience and the ability to resist the false urgency of new ideas.

Here’s what I do now: Whenever a new idea strikes, I write it down along with some context about where and when it came to me, and why I think it’s worth pursuing.

For example, “[On Tuesday, September 3, 2024], [in Toronto], at [the Shops at Don Mills], I came up with the idea [to build a community platform for visitors to this area. The platform would list local businesses, include user-submitted reviews, photos, and ratings, and offer discounts for frequent visits or streaks. The goal is to create a fun, competitive environment that adds value through discounts and memorable experiences while promoting local businesses. I noticed many places were empty, and after talking to business owners, they seemed concerned about declining foot traffic, even though they were active on social media.]”

After noting the idea, I let it sit for a while. If it continues to occupy my thoughts and I gather more information over time, I consider it more seriously. I conduct further research, engage with potential users (business owners and guests), and collect as much data as possible before diving into design or development.

By resisting the urge to immediately invest time and energy into every idea, I’ve developed the patience and expertise needed to evaluate business potential effectively.

So, the next time you have a new idea, write it down, let it simmer, and exercise patience. As Eric Ries covers in The Lean Startup, the iterative process and thoughtful evaluation are key to successful innovation. Similarly, Daniel Kahneman’s Thinking, Fast and Slow offers valuable insights into how delaying immediate action can improve decision-making. I learned that the hard way. 
If you like to dig into further reading on the importance of patience in business which you can apply to life as well, you might enjoy these articles:

Unless you have a clearly defined market and interested prospects ready to engage, it’s often best to hold off until you’re certain.

Now, have you ever rushed into a new idea only to regret it later? How do you balance enthusiasm with thoughtful evaluation?

I hope this perspective proves helpful.

- Ahmed