Ideas come and go, so how do you know which ideas to keep and which ones to say farewell to ? Here are the four questions that I ask myself instantly after a business idea pops into my head.
1. Am I willing to dedicate a majority of my life to this idea ?
2. Do I have something to offer that my competitors do not offer ?
If I can answer yes to these two questions, I then seek out clients. Once I have paying, satisfied clients I can answer yes to my third question.
3. Is what I have to offer that my competitors do not ( question 2 ) of value ?
Last, but not least I ask myself a fourth question. In my opinion, this is one of the most important and often times overlooked questions that an entrepreneur should ask themselves before dedicating their time and or money into a start-up.
4. Is my business idea scalable ?
If you can answer yes to these four questions, I believe that your business idea is worth developing.
What questions do you ask yourself to decide whether or not a business idea is any good ?