How to Know If You Have a Great Business Idea

Havant

If you're eager to launch your own business, you need more than an idea. You need an idea that works. It helps to be passionate about both your concept and entrepreneurship in general, but it's critical to be realistic and well informed going into the process. We have picked for you few ways to identify if you business idea will work.

Does it solve a problem?
Entrepreneur and co-founder of the web design school The Starter League , Mike McGee thinks the best business ideas are those that solve a problem in some way. If there is a problem that affects you, your friends, family, co-workers, etc., then the chances are high that it affects people you don't know as well," McGee said.

Will people will pay for it?
"It's paying customers who validate an idea and determine which ones have the greatest chance for success", said Wil Schroter, co-founder and CEO of Fundable.

Are you passionate enough about it?
Your business will likely take up all of your time, so make sure you're passionate about it to make it successful. It's important that your idea is something you truly care about, not just something you've targeted because it seems like it could be lucrative.

Have you tested your idea?
You won't know if your business is viable until you test it on strangers, friends or people who you know will be honest about it and likely too me your biggest target audience. 

How will you market your business?
Even if you have the greates idea, you will have to find the best way to market it and let people know about it. Decide on different ways depending on your target market or the different segments you target.

Source:

https://www.businessnewsdaily.com/3969-finding-great-business-idea.html