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

Here are three indicators that your idea is worth your time and energy.

learn more about Dan Bova

By Dan Bova • Mar 19, 2019

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.

These tips and many more come from Start Your Own Business. Check it out and other great resources at the Entrepreneur Bookstore.

Dan Bova

Entrepreneur Staff

VP of Special Projects

Dan Bova is the VP of Special Projects at Entrepreneur.com. He previously worked at Jimmy Kimmel Live, Maxim and Spy magazine. Check out his humor writing at Planet Bova.

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