Source | www.entrepreneur.com | Dana Brownlee
Everyone has at least once in their life had a million-dollar idea. The tricky part is deciding if this idea actually has legs and could be a viable business.
These questions can help scope what I like to call “The Success Triangle,” an approach to help budding entrepreneurs decide whether to pull the trigger on that small business idea.
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1. Concept: Is it a good idea? Let’s start with the obvious. Not every idea is a good one and just because your mom thinks it’s great doesn’t mean it is. Too many of us suffer from the “if we build it, they will come” mentality which can be equally tempting and dangerous. Just because you are obsessed with your dogs and think the world is clamoring for the introduction of canine teeth whitening pens doesn’t mean it will be a hit. It’s easy for something to seem like a great idea initially but several key questions should be asked to help determine whether the idea is truly solid: