Rule of 2

You just need two minutes to think of an idea, but what does it take to actually create a company around that idea? A startup is a lot more than just an idea.

  1. If you think you have a decent idea, spend just 2 minutes internally fleshing out the idea.
  2. If still think its a good idea, give it 2 hours to more thoroughly brainstorm and consider the tradeoffs.
  3. If you still think its a good idea, give it 2 days.  At this point, you might want to get other people involved for consultation.
  4. Still? Give it 2 weeks. At this point you want to be fairly serious about coming up with a pitch and prototyping the product.
  5. Finally, 2 months. At the end of 2 months, you want to be relatively sure you are fully committed and can make this into a business.

This progressive strategy for committing time allows you to explore new ideas while also constantly re-evaluating if the project is going to be successful and worthy of more time.

Taken from Jeff Nelson’s answer on Quora.