Is My Idea Good Enough to Start a Biz?
I hear this a lot, “do you think my idea is good enough to start a business?”…and normally what people mean is “do you think I’ll make money doing this?”.
The short answer is- most ideas you can think of are good enough to start a business around – in short you can probably make some money doing almost anything.
The real question is whether or not your business idea is worth the risk, and will provide adequate reward if it works out. For sake of argument let’s say adequate return is enough money for you to live on, at least replacing your current income.
So now the question changes once again, this time to “given my idea, what is the potential?” We’ll talk about potential in a minute, but first let’s dispel some myths about what your business idea should be.
You can make your adequate return, and then some, if within your business idea you can see your unique selling proposition.
Simply put your unique selling proposition (USP) is the reason I’d buy from you and not a competitor.
Continue Reading: “Is My Idea Good Enough to Start a Biz?”
Photo by nookiez.
RedHotFranchises on June 15th, 2009 7:26 pm
It doesn’t take the best or the greatest idea to start a Business, but if you can invent a new wheel, you would stand to be a millionaire overnight but the odds are very low. In today’s world you can become a millionaire selling wheels instead of reinventing the wheel and find ways to sell more wheels. Diversification is the key to Success.
Jaclyn on June 16th, 2009 6:03 pm
Very true from RedHotFranchises above. There are so many different ways one can make money off of something. The question should not be can i make money doing this, because i’m sure you can to a certain extent, the question needs to be how much money do you want to make and can you given your idea. the broad range spectrum of money allows for so many variables on reaching your ultimate goal.
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