Can you tell the difference between a good idea and a great business idea? Ideas are cheap and plentiful – everybody has them. The real key is what you do with that idea, and whether you can pick out the genuine business opportunities from the piles of merely bright ideas. This week, you’ll get a series of questions to ask yourself that will help you identify the ideas worthy of moving you forward as an entrepreneur.
Would you still support this idea if it wasn’t yours?
Say a stranger in line at Starbucks gives you an elevator pitch for your product. Would you be chomping at the bit to get in on the ground floor? Or would you be hustling away with your latte?
Is there a void you will fill?
Do your research and understand how your product or service will fulfill an existing need in the marketplace.
What do the experts think?
People on the inside of an industry might be too ensconced to recognize change on the horizon. They may not be able to shift to an innovation mindset. If you can hit the sweet spot between need and getting there before the big players, you’ve got it made.
Are you an entrepreneur looking to start a business? Talk to an expert first and get matched to the right one that fits your business personality!