Using hedgehogs to shortlist your start-up options

If you’re in the research phase – tabs open, spreadsheets half-built, weighing up which business to actually start – this one’s for you.

There’s a line from the Greek poet Archilochus that Jim Collins built a whole chapter of Good to Great around: “The fox knows many things, but the hedgehog knows one big thing.”

The fox is clever and quick, always chasing the next idea. The hedgehog isn’t flashy. It does the one thing it’s great at, and it wins every time.

Most people choosing a business think like foxes. They chase whatever looks hottest; the trendy app, the dropshipping wheeze, the thing a mate swears is booming. And they burn out, because “interesting” isn’t the same as “right for me.”

Collins found the opposite works better. The best move sits where three circles overlap:

• What you’re deeply passionate about – not just “don’t mind,” but could happily talk about for a decade.
• What you can be the best in your area at – a real edge where you are, not in theory.
• What actually drives the economics – a model that actually makes money, ideally in a way that compounds.

The magic is in the overlap. Loads of ideas hit one circle. A few hit two. The rare opportunity sits in the middle of all three. That’s the one worth years of your life.

How to use this on your shortlist

Take whatever’s on your list right now and score each one honestly against the three circles:

• Could I stay passionate about this on a wet Tuesday in year three?
• Do I have an edge here — a background, a network, a temperament that fits?
• Is the money real and durable, or am I hoping it works?

Be ruthless. A “yes, yes, maybe” beats a “brilliant, no, yes” every single time. The idea that excites you but you’d be mediocre at is a trap. So is the money-printer you’d quietly resent.

Why I landed on homecare

I’ll admit my bias, but this is exactly why homecare kept winning my own shortlist:

• Passion: it’s work that demonstrably matters. You’re helping families, keeping someone in their own home, with dignity. That carries you through the hard years.
• Best in your area: care is intensely local. A committed owner who knows their town can genuinely be the best provider in it – you’re not fighting a Silicon Valley giant.
• Economics: an ageing population, recurring revenue, and demand that doesn’t vanish in a downturn.

That’s not a coincidence; it’s a sector that happens to sit in the middle of all three circles for a lot of people.

Found this useful?



Before you fall for the most exciting idea, find the one big thing where all three of your circles meet. Grab a scrap of paper, list your options, and score each out of three. The winner is usually quieter… and far more likely to still be standing in five years.

Best,

Ben