Come Up With A Good Idea
What exactly is a good business idea? Well, it’s one that has a high probability of reliably creating a profit, has a viable chance of success and engaging customer interest and loyalty, but more importantly, is a good fit for your personality and lifestyle. More specifically, it will serve a purpose and meet a need that is currently unmet in your market, fits your ideal customer, and you have the ability to provide for that need and the passion to do it even when it’s hard. So come up with an idea, and make it good. Real good.
Conduct a SWOT Analysis to identify you and your business strengths and weaknesses, plus the opportunities and threats
For a SWOT Analysis and class on creating a Lean Business Plan, sign up for my free class - How to Create a Lean Business Plan
Make sure that your business idea jibs with your strengths and personality type.
Define what success looks like to you
Research, research, research
What are popular businesses in your industry of interest?
Does your business cater to all of your customers equally?
Can you diversify your product or service in the future?