what makes a good business idea?
DESCRIPTION
What makes a Good business idea where people want to invest in????TRANSCRIPT
What is a good business idea?…where people are willing to invest in
1.) Solve an existing problem (a lot of value) - Needs that are ignored, un-met, unseen
2.) A lot of people wanted it (big potential market)
3.) Must be scalable (can grow)
4.) Must be profitable (can make money)
It is NOT about how unique the idea is ….
It is how unique the VALUEis … to solve the everyday problems of a lot of people.
What is a good business idea?
It’s so simple that people will say;
“Why didn’t I thought of that?”
Traditional business with a twist
Meeting an ignored needs
www.eharmony.com
The common dating services
www.hotornot.com
Now this is HOT… with a twist
www.99designs.com
Game changer…
Traditional business ….
… with a difference
Traditional food center
Traditional business with a twist
Traditional business…
Traditional business with a twist
INNOVATIONS – Better, Faster, Cheaper
Innovations
Apple did not invent digital music player…
…. Nor did they have any “first mover advantage”
They just did it better…
Apple did not invent mobile communication…
…. Nor did they have any “first mover advantage”
They just did it better…
Apple is not the first who produced the tablet…
…. Nor did they have any “first mover advantage”
They just did it better…
Traditional business …
Traditional business with a twist
So…. what is a good business idea?…where people are willing to invest in