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.

Grow Your Business, Not Your Inbox

Stay informed and join our daily newsletter now!
Editorial Director
2 min read

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.

More from Entrepreneur

We created the SYOB course to help you get started on your entrepreneurial journey. You can now sign up for just $99, plus receive a 7-day free trial. Just use promo code SYOB99 to claim your offer.
Jumpstart Your Business. Entrepreneur Insider is your all-access pass to the skills, experts, and network you need to get your business off the ground—or take it to the next level.
Entrepreneur Store scours the web for the newest software, gadgets & web services. Explore our giveaways, bundles, "Pay What You Want" deals & more.

Latest on Entrepreneur