Do you have an idea for a new business? While you may find it easy to generate many new business ideas, it isn’t as easy to identify which ones are truly stellar.
How do you know when you’ve come up with a fabulous business idea? We asked successful business owners what key characteristics point to a great business idea. Here’s what they told us.
1. It Fills A Need And Solves A Problem
2. It Reaches Large And/or Multiple Markets
3. It Can Withstand Free Competition
4. It Develops Quickly And Spreads Easily
5. You’re Passionate About It