Subscribe to Entrepreneur for $5
Subscribe

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.

By

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.

Latest

This Entrepreneur Maxed Out His Credit Cards to Build a Business That Helps Companies Protect their Data

The president and CEO of Data443 shares how his company secures and manages organizational data wherever it exists.

How This Doctor-Turned-Entrepreneur is Trying to Change the World Through Play

The CEO of In KidZ shares how she's trying to make inclusion a daily part of family life with her culture-focused company.

How to Lead Calmly and Effectively While Your Business Experiences Growth

The co-founder and CEO of Komodor discusses his company's journey and his advice for entrepreneurs who find themselves in the spotlight overnight.

This Meta Leader Has Interviewed More Than 300 Job Candidates. Here are Her Pro Tips to Help You Nail Your Next Job Interview.

Meta's head of Global Environmental, Social, and Governance Business shares her dos and don'ts when it comes to the phases of a job interview.

This No-Code Platform Just Closed a $55.5 Million Round B

The co-founder and CEO of EasySend shares how his company creates digital customer journeys and his advice for entrepreneurs looking to break through the noise.

This SaaS Founder Sold His Business to Oracle for $9.3 Billion

In November 2016, NetSuite was acquired for $9.3 billion. Founder Evan Goldberg explains how it happened.

These Founders Started Their Company With a $300 Investment. They've Now Done $1 Million in Profits.

Watch this exciting episode of 'Entrepreneur Elevator Pitch' to learn about Canadian legging company Rose Buddha and see which hopefuls are able to land investor capital.

This Digital Campaign Celebrates the Fast-Growing Workforce of Web Creators

Elementor's VP of Marketing discusses the company's digital campaign and how web creators fit into the larger creator economy.

Watch the 60-Second Pitch That Landed a $500,000 Investment

Find out which companies impress our investors on another exciting episode of 'Elevator Pitch.'

Why This CEO Believes Entrepreneurship Is as Important to Learn as Geometry

Ayele Shakur shares her bold plan to make entrepreneurship education a requirement for high-school students and explains why business leaders should get on board.

How this Healthcare Entrepreneur is Disrupting the Fertility Space

The Founder and CEO of Inception Fertility shares how his family's road to parenthood inspired a brand that's making fertility treatment more accessible and the patient experience at the heart of what they do.

Discover Entrepreneur Series

Whether you need advice on how to get your business off the ground or you’re just looking for inspiration, our video series have something for everyone. Browse our library below to find a series that speaks to you and your interests.

  • An original series streaming weekly where you can Click-to-Invest while you watch. THEIR JOURNEY. Your decision.
  • Your favorite pitch show is back with new entrepreneurs pitching Entrepreneur's investors.
  • Host Nicole Walters interviews small business founders to discuss their unique challenges and experiences running and growing a business. 
  • Jessica Abo covers the causes people care about, the powerful work they do and how they got to where they are in the first place.
  • Bestselling author, Ben Angel, takes his audience on a journey into the entrepreneurial mind to uncover why we do what we do through his powerful short films and educational videos so you can unleash your ideas and potential.
  • Watch our staff interview top entrepreneurs and report on location in these Entrepreneur.com exclusive videos.