Is Your Idea Worth Pursuing? Here’s How to Tell

Do you have a spark of an idea that feels like it has potential? This mini-episode of Aspire with Emma Grede, brought to you by Shopify, will help you realize if your spark has the potential to turn into a flame. On today’s pod, Emma offers solid steps to begin realizing your idea’s possibility. From identifying what problem your idea is solving to differentiating yourself from a crowded market, Emma guides you through the right questions to ask. Being an entrepreneur doesn’t mean changing your circumstances in a day... It’s a calculated journey that requires a step-by-step approach to test and learn. This is where a tool like Shopify starts to come in handy. Shopify isn’t just a place to sell things—it’s a platform that helps you test your idea. In this episode you’ll learn how to: -Name the problem your idea is solving to help people care about your product -Identifying your audience and asking yourself how willing are you to dedicate the time and effort -What can I bring to this solution that will set it above the rest? -What sets you apart from the competition, your difference is your power. If you’ve been thinking about starting something of your own, Shopify can help you take that first step. It’s built to make turning an idea into a business simple—from setting up your store to handling payments, inventory, and shipping. That way, you can stay focused on what really matters: bringing your vision to life. Explore what’s possible at shopify.com/aspire https://shopify.com/aspire

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:09Emma Grede?

  Today's episode is one for all the aspiring entrepreneurs out there. We're going to focus on how to know if your idea is worth pursuing, how to size up the opportunity and how to stand out from the competition. Because once you've answered those questions, you are off to the races. Now, every entrepreneur knows that exciting and sometimes overwhelming moment when you get hit with an idea. You know the one. It feels electric, like it could change everything. The hard part is what to do after that big moment. What to do as all the questions creep up? Is this actually a good idea? Will it be worth my time? Who's going to buy this? Where do I even start?

• 0:51Emma Grede?

  I always say, an idea that visits you daily is worth pursuing. But the truth is, there's so much to the messy middle between inspiration and execution. And truthfully, that is where a lot of great ideas get lost. But here's the good news. You actually don't have to figure it all out alone. We live in a time where entrepreneurs have access to tools that can take you from idea to market faster than ever before. So the first thing that you have to figure out is, what problem am I solving? So let's start at the beginning. The spark is what I like to call it. That moment when something clicks in your brain and you think, this could be it. I have an idea I want to pursue, but what next?

• 1:34Emma Grede?

  So the first question I always ask myself is, what problem am I solving? Because if your idea doesn't solve a problem, be it big or small, it's going to be tough to get people to care and buy what you're selling. When I think about starting something new, that question of what problem am I solving is one I spend a lot of time contemplating. When I started Good American, there were two major insights that helped inform me wanting to start that business and better understand the opportunity and what I was solving for. So the first one is that 68% of women in the US are above a size 12. Yes, they are. Most apparel retailers only cater up to a size twelve. Go figure.

• 2:14Emma Grede?

  When I came into the fashion business, a much kind of straighter body type was what dominated the media and that was the ideal. Kate Moss was the muse of the moment, but that has changed so much in recent years. Curvy body types are completely celebrated, thank goodness, and most women, regardless of size, they've got curves, meaning they have a smaller waist to hip ratio. And yet so much clothing, not just denim, but so much clothing generally, wasn't cut for a more womanly curvy figure. Now, the second insight is that you could be in a mall with a thousand stores and yet only between two and five percent of them would service a plus size customer and usually, and honestly, with very cheap, undesirable and unfashionable products.

• 2:57Emma Grede?

  Now, I know from my years and years of working in fashion that there is always a market for a more discerning, premium shopping customer who cares about design integrity. The way something looks, how it fits, having a good fabrication or just something that looks cooler. It's why we all gravitate towards Apple, as an example. Amazing design is intrinsically felt, not just seen, and therein lie my opportunity. And so here's the thing I need to let you know, especially in the culture that we're living through now. Sometimes the problem that you will solve isn't earth shattering. It doesn't have to be reinventing the wheel or building the next billion dollar tech company.

• 3:39Emma Grede?

  It can be as simple as people can't find jeans that fit properly. Or I want to make a category that exists but make it make sense for this specific customer demographic. Don't ever think any differently. Businesses come in many different shapes and sizes and ultimately what success looks like is entirely personal. The size of the problem, however, now that matters and we'll get into that in just a second. But the fact that you're solving something, that is the foundation of every successful business. So you've identified the problem you're solving, that's step one. Step two is figuring out, does the problem have an audience? Is this problem big enough and is it? Worth my time and energy to solve. This is where you start thinking about market fit.

• 4:25Emma Grede?

  How many people actually have this problem? How often do they face it? And crucially, how much are they willing to pay for a solution? Now, clothing is a one point seven trillion dollar market. Globally denim makes up nearly eighty two billion of that market. That's hundreds and hundreds of millions of potential customers. I knew from experience that I was constantly getting my own denim altered. I'm five four, the average height for a woman in the U S is also five four. And so to me, it stands to reason if I was making alterations to my denim, that so many other people would be doing the same. Now, having that insight around the plus size customer made me start to think and look at other demographics. Women with long inseams, for example, or petite women.

• 5:09Emma Grede?

  It stood to reason that there was an opportunity in all of these markets. And the world's most inclusive denim brand was born, Good American. Now, I tell you this part because addressing who will be your customer, this is where a lot of entrepreneurs get tripped up. They fall in love with the idea without testing if there's actually a customer on the other side. And listen, passion is important. You will need it to keep you going. The passion alone won't pay the bills. You have to have a problem to solve and someone to sell the solution to. And here's the other layer. Is it worth my time? Because let me tell you, starting a business is going to demand everything from you at some point. And I don't want to downplay that part. I never want to downplay that part.

• 5:53Emma Grede?

  I've had times in my life where all I did was work. I've sacrificed a lot and you will likely need to as well. You're going to have the setbacks, you're going to have moments of doubt, and you'll have to relinquish some personal commitments and figure out the trade offs that you can live with. Something always has to give. But what you could get in return is the deep satisfaction of knowing that you bet on yourself. And hopefully you won. Now, in our first mini episode, we talked about finding your why. That part of your truest self that feels connected to the mission that you're embarking on. When assessing your Idea, you should revisit that exercise. Does the journey ahead of you with your business idea connect to your why?

• 6:36Emma Grede?

  It really needs to, because if it doesn't, you're gonna have a hard time keeping enough energy to get you through the tough spots. And let me tell you, and any entrepreneur will tell you, they are coming. The tough times are always there. Now, I'm obsessed with making product where I feel like the market is grossly underserved. This is how I begin to think about the plus size customer. And ever since I've weaved that thinking into everything I've done. Make sure you always, always track back to your why. All right, so let's say the opportunity looks real. You know, the problem's there, you know, people will pay for a solution. And you know that this solution connects to your personal mission.

• 7:16Emma Grede?

  The next question is, what can I bring to this solution that will set it above the rest? Because the chances are, someone else has thought of it too. Maybe they're already in the market, maybe they're bigger or better funded or more established. That doesn't mean that you can't succeed, but it does mean that you need to figure out your differentiation. What sets you apart or your USP, your unique selling proposition? Now, I'm pretty good at making clothes and I love a new project. But what really gets me excited is opportunity. So I started speaking obsessively about the idea of Good American. And every time I spoke to a woman about badly fitting uncomfortable jeans

• 7:58Emma Grede?

  or the cost of making alterations or pockets that flattened your butt. There was always such a big reaction, which made me think I was really, really on to something. I knew while I was creating a really familiar product, I mean, you don't get more familiar than denim, that I would need to make a big difference in the design that could be felt and a very different size range structure. And alongside all of that, I would need to create a set of values that meant that those two things could never be changed within the company so that we would mean something to the community of women that we would ultimately serve. Now differentiation can come from a lot of places, from your story, from your product design, your values of a brand, the community you're building.

• 8:41Emma Grede?

  So ask yourself this question, why would someone choose me, my product and this company? And keep asking until you've got an answer that feels strong enough to stand on. At this point, you've asked yourself all the right questions. Now comes the scary part. The leap from idea to business requires action. And action doesn't have to mean building out the entire empire from day one. It can be small, maybe putting one product into the world and saying, let me see how this goes. I think the ability to test and learn is so powerful and all you have to do is start. This is where tools like Shopify come in so handy. Shopify isn't just a place to sell things.

• 9:23Emma Grede?

  It's a platform that helps you test your idea, which I'm obsessed with. You can validate whether it resonates and then you can grow when you're ready. Maybe your product just flies off the virtual shelves. Or maybe you gained some key insights that actually help you pivot into a better fit. One of my favorite quotes is, I never lose, I either win or I learn. And that's the mentality that I want you to take into the test and learn phase. Because there's so much to gain from just being brave and getting something into the market. But then being smart and listening to the feedback and having the good sense to iterate on your idea, given everything you've learned. Don't forget, the sooner you put your idea in motion, the sooner you'll learn whether it resonates.

• 10:05Emma Grede?

  That's where momentum comes from, not just thinking about it, but doing something about it. So let's summarize, if you've got an idea, start with these questions. What problem am I solving? Every great business starts by solving something real. If people don't care about the problem, they won't care about your product. Next, how big is the opportunity? Make sure there's a real audience out there and right size your ambition around what you're doing and the audience that is out there for it. Then ask, is this worth my own time and energy? Starting something new takes everything you've got. So make sure it ties back to your why, that deeper reason that keeps you going. And lastly, question, what makes my solution different? Your difference is your power, whether it's your story, your values or your design.

• 10:49Emma Grede?

  Own what sets you apart. At the end of the day, that's how great ideas become great businesses. By solving something real for people who need it in a way that only you can. Answer those and then take. Action because the truth is no one can answer those questions better than the market itself. So my challenge to you is this, if you've been sitting on that spark, take the leap. Don't just dream about it. The prizes only go to those who get in the race. So you've got to do something about it. Go to Shopify.com and start because Shopify gives you the power to put your idea out into the world today. No gatekeepers, no waiting for permission, just you, your idea and the tools to make it real. Thank you so much for joining me for this special mini episode of Aspire.

• 11:33Emma Grede?

  We'll be back soon with one more episode about bringing your idea and your business to life. And I cannot wait to see you then.

• 11:45Emma Grede?

  If you're loving this podcast, be sure to click follow on your favorite listening platform. While you're there, give us a review and a five star rating and share an episode you loved with a friend. We'll be so grateful. Aspire with Emma Grede is presented by Odyssey. I'm your host, Emma Grede. Our executive producers are Corinne, Giliad Fisher, Derek Brown and me. Our executive producers from Odyssey are Maddie Sprung Kaiser, Leah Reese Dennis, Asha Saluja and Jenna Weiss-Berman. Stephen Key is our senior producer. Sound design and engineering by Bill Schultz. Angela Peluso is our booker. Original music by Charles Black. Video production by Evan Cox, Kirk Courtney, Andrew Steele, Carlos Delgado and Arnie Agassi. Social media by Olivia Holman.

• 12:30Emma Grede?

  Special thanks to Brittany Smith, Sydney Ford, my teams at The Lead Company and WME. Maura Curran, Josefina Francis, Hillary Schuff, Eric Donnelly, Kate Hutchinson Rose, Tim Mikul, Sean Cherry and Lauren Vieira. If you have questions for me, you can DM me at aspirewithemmagreed. Grede is spelt G R E D E. That's aspire, A S P I R E with Emma Grede. Or you can submit a question to me on my website, emmagreed.me.