How to Know If Your Business Idea is the NEXT BIG THING!

Regardless of what your business sells or what services you are offering to customers a new idea to existing business should always be evaluated on its feasibility. Evaluation of new business idea in a startup business becomes more important than in existing businesses. You probably have heard the quote ‘There is no point of climbing a ladder leaning in the wrong wall’.

Positive Criticism is Healthy for a Good Start
Before you start implementing your business start up idea, set enough time to evaluate the main idea and revaluate it again, before you can invest your time into building your business on it. 

Some expert’s opinion or like minded people might shed light on some important aspects you cannot see in your business idea.

Whenever I want to implement  a business idea, I talk to people I regard as positive critics who engage me on a brainstorming session helping me poke a million holes on the idea before I start.

 I then answer this question; ‘Will this idea fly or crash-land?’ Depending on the answer I settle down to refine it more, or come up with a better idea on the same business.

For more than 5 years ….
For nearly 6 years now, I have carefully studied different successful business start ups and discovered consentient trend of successful business ideas, which is value addition to existing alternatives. 

In this digital era it is utter nonsense trying to reinvent the wheel …yes I mean serious waste of time.

 Forgive me for my open display of arrogance but I think successful online businesses thrive on existing ideas buyers or clients are already buying into, which are then refined to deliver more value. Talk of value addition and you are now into business.

So if you are busy trying to implement your new business idea hoping it is the next big thing, it might be helpful to stop and think whether the idea is worth your time or not.

Learning from Related Successful Existing Businesses
The initial idea of your business does not matter, you should learn to refine it maximize on adding more value and making more money. 

If you take the example of Facebook launched in 2004 with revenue of 5.1 billon dollars as at year 2012 and Twitter the other popular social network launched in 2006 and makes about 140 Million in 2010, you will notice the two businesses are purely social networking models.

Reasonable success has been achieved by Twitter despite Facebook social networking dominance. 

Its helps to evaluate your business idea against similar existing business before you start. You should also evaluate the competition and supplementary businesses that your business lifeline might depend on. 

Get in Touch with me to help you implement your internet business ideas.