Identifying the Best Business Ideas
Use the five principles below to evaluate your list of ideas. Also, use Exhibit 5.6 to evaluate and remove ideas that don’t look promising. If you delete an idea, state in 1-2 sentences why you deleted it. Select one idea per group. State why it is a good idea based on the five features above and Exhibit 5.6.
Real Business Opportunities have the following features:
They create or add significant value to the customer
They fix a real market “pain” or difficulty for customers
The problem is urgent and pervasive and the customer is willing to pay to fix it.
The opportunity has strong market, margin, and profitability
The founders and management team have collective experience in the area of business
Around 800 words? cover all the things need to cover
Identifying the best business ideas
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Identifying the Best Business Ideas
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