Every idea does not make a good business

Every idea does not make a good business

be differentSelf-christened out of the box thinkers tend to run in overdrive, throwing out ideas like a wood chipper spits out chips. There’s nothing wrong with this but stop to consider that every single idea might not be the seed of a good business. Sure, each idea is exciting at the moment of conception but why not slow down (or pay someone else) to do preliminary research before declaring it to be your new life passion?

For starters, take on one project at a time and really pay attention to it. Choose the one that is speaking to your heart the loudest. There will be plenty of time for your other ideas in the future. Why not give each one your undivided attention for a while to give it an honest chance?

Before establishing your business, wouldn’t it be nice to know if there is a need for the service/product or an already established market? These days research is a simple matter. Google a handful of terms related to your idea and look at the sponsored links on the right side of the search results. If there are paid ads there, you know somebody is making money – especially if the ads appear over a matter of months. It’s still up to you to make your business stand out from the competition but at least you know people are spending money in that market.

The human brain is capable of bad ideas as well as good ones. When it comes to business and entrepreneurialism, it’s better to figure out which is which sooner rather than later.

The Young Wealth Team