Tips

Is Your Great Business Idea Actually Great? Here’s How to Find Out.

You shot out of bed in the middle of the night with a billion-dollar idea. But is it really? Here are three indicators that tell you if you should put that idea into motion, or if you should go back to sleep.

  1. It solves a problem. Does your idea deliver a solution that makes a whole lot of people’s lives easier? Remember: It doesn’t have to be something no one else is doing, but it does have to be something that no one else does better.
  2. It’s scalable. For your idea to go big, it needs to have a pathway for growth and expansion. Do you see the potential for your product or service to be used by more and more people and industries?
  3. It’s something people want. This might seem obvious, but to sell someone something, it has to be something that they want or need. Bounce your idea off trusted friends, family and potential customers. If they ask you how soon they can have one, you might be onto something.

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