Is my Business Idea Good ? 4 Questions to Ask Yourself

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 ?

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2 responses to “Is my Business Idea Good ? 4 Questions to Ask Yourself

  1. “Ideas come and go, so how do you know which ideas to keep and which ones to say farewell to ?” It’s very accurate! It seems I have lots of ideas,but sometimes I can’t remember them.

    • I have a simple solution for you Linda. I always carry a small leather planner in my purse so that when an idea comes to me I can immediately pull out my planner and jot it down. I suggest that you do the same. Don’t forget to throw a pen in your bag !

      I believe that you really only need one remarkable idea. If your one remarkable idea is your company you will always be looking for ways to create higher value for your clients. I strive to dedicate myself to only a few select things that I believe in and am passionate about. I encourage you to do the same. When you start feeling like you’ve lost the passion for something you’re spending time on, ditch it ASAP.

      I’m currently offering business English lessons focused on communications to a niche market. Now that I have transformed my idea into a business I can focus my energy on improving my service.

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