Follow your value system. Examine your talents, your attributes and your affinities and develop an idea for a business that you would enjoy.
Give your start up idea the following test:
Do you have a product or service niche in mind?
Do you believe you have a market for 1 above and the means to reach it?
Are you willing to develop a business plan to validate 1 and 2 above before you launch?
If the answer to the above questions is yes than take the actions indicated, observe the results, then make an informed decision on whether or not to proceed. For further guidance on this type of planning, please see the answers to the following question here at the Micro Mentor Q&A Feature:
Report Kenneth's answer
Great feedback. Thank you.
Report Salami's answer
Salami hi. You may want to read this link to answer those questions and develop the foundation of your business: https://www.sba.gov/starting-business/write-your-business-plan%20 . Have success.
Report Miguel 's answer
People who are not entrepreneurial do not conceive the thought of starting a business nor do they come this far to asking these kinds of questions, so I sure hope you have already started working on your business idea, and that it is something that you love doing because we are at our best when we are in our elements.
I like what Nike says; "Just do it" and here is why we need to apply a bit of agile and scrum mastery principles so that we do not wait until the entire master plan design has come to a head. Start putting your ideas onto paper, no matter how stupid they sound, or read, and as you do so, go right ahead with the execution of what you can tackle first and deliver your thoughts in increments. Fix what breaks, or what is impractical along the way because you can only know after you have started and will only become a master of your design after making a few mistakes and taking a few bad business decisions. Every successful entrepreneur has made a few of these.
All the best
Report Charity's answer
Starting a business begins with clear vision and mission
What problem are you solving that one will benefit from? If you want to evaluate your ideas you need to answers some serious question and you need to be honest with yourself.
Below are few question to help you evaluate your idea.
What am I tend to solve ? (This is the business idea)
Who will benefit from this ? (target customers)
Can someone recommend my solution? (Marketing strategy)
Do I have the means and resources to execute the plan (Business planning operation)
Should I charge for my services?, if yes, how much and why? (pricing concept)
Why will someone buy from you (Competitive Analysis)
How long it's going to take me to solve the problem and what is the next big thing after solving the problem (Growth strategy)
Hope that will help. And the truth is that there is no bad business idea nor good business idea, is all about problem solving and why you need to solve the problem, and what is in for them vs What is in for you and your team.
NB: Dont think about money , think about the benefit and what impact will your services or solution have in someone's life.
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