Home – Blog – Business Idea: 3 Ways to Find Out If You Have a Good Business Idea
April 22, 2014
Written by Marc E. Parham
All of us have had that “eureka” moment when the lightbulb goes off and we say “that would be a great business idea!” This article will give you questions to ask and ways to find out if your idea can make money.
First let’s go over a few questions that you need to ask;
- Is this a new idea or an improvement on an old idea
- Is there a real need for your product or service?
- Who will buy your product or service?
- Is there much competition for your idea?
- How much does it cost to start and run this business?
- Do you have the skill to do the work or develop the product?
- Can you make money in this business?
Now let’s go through a few ways to get the answers
Use the Internet to get most of the answers. Remember to cut and paste or bookmark the information that you find so you can return to it later.
1. Google it?
Use Google to do simple searches on your business idea. Use search expressions like “starting a bakery” or “starting a landscaping business”. You will be amazed at the results that will come back.
2. Research Articles
Go to article posting sites like www.ezinearticles.com and put your business idea into the search field. You will get back all sorts of articles about the business you want to start.
3. Ask Someone
Sometimes the easiest way to find out about a business is to ask someone that is already doing it. If approached properly, an existing business owner will give you a treasure of information.
Anyone can come up with a great business idea. To ensure that your idea is the right one, you will have to ask yourself certain questions and do research to find the answers. The Internet makes this easy!