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What makes a GOOD business idea?

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Published 6th September 2011 |
Read latest comment - 22nd December 2011

Afternoon all,

I've got quite an exciting proposal ahead with regards to business ideas - and in particular looking to the entrepreneurs of the future here. However, to kick-start it all I need some my opinions from all you business-minded people out there. Basically...

"What makes a good business idea?"

I'm looking for you to interpret that how you like - variety is the spice of life! This is an exciting project that I'll share lots more about if/when it gets the go ahead, but for now any input would be greatly appreciated!
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A good business idea in my opinion is one that you are passionate about...and one that hopefully will be profitable.

Ryan

forum avatark925 Pet Services
7th September 2011 8:51 AM
I think that having a USP that will distinguish you from the competition is always a bonus

.
"What makes a good business idea?

Taking something that's already out there, has a viable profitable market, then doing it better.

Very few people introduce something brand new or can create a market. The likes of Steve Jobs (Mr Apple) are a rare breed.

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

If it doesn't make money and you dread the idea of getting out of bed to do it, then its not a good business idea.

Replacemyscreen.co.uk

Is having passion for something really enough though? Loving what you do is great but if you've ever watched Dragons Den (sorry, bad example i know) you see all these people who are passionate, absolutely love their business idea but really it's an absolutely crazy idea.!

I do agree though, if you don't have the passion for what you're doing then you're more likely to fail.

Melanie

Its the one thing you know will work, beyond a shadow of doubt, and its the one idea you cannot wait to start working on.

This actually works for me. When I am curious, want to work on an idea, it actually works out better for me, and the project does well. It's not about filling a gap in the market with some new fangled invention, its about doing something you want to do and knowing that you might not be the only one doing it, but you're probably the only one that cares about how you do it. Which could increase the success of the idea.

Thanks,
Dreamraven

Afternoon all,

I've got quite an exciting proposal ahead with regards to business ideas - and in particular looking to the entrepreneurs of the future here. However, to kick-start it all I need some my opinions from all you business-minded people out there. Basically...

"What makes a good business idea?"

I'm looking for you to interpret that how you like - variety is the spice of life! This is an exciting project that I'll share lots more about if/when it gets the go ahead, but for now any input would be greatly appreciated!

To borrow a phrase from Lord Sugar, "You need to find what is Hot and drop what is not"
Many people have great product ideas and phantasmagorical services but if there is no demand for, then often it's a none starter or can produce a bad investment.

Paul Green

...and phantasmagorical services

now there's a word I need to start using

Steve Richardson
Gaffer of My Local Services
My Local Services | Me on LinkedIn

forum avatarPeter Birganza
24th November 2011 6:57 AM
What makes a good business idea?

Your knowledge and passion can develop the best business idea for you. I want to ask you that for what kind of business you want to take idea? The most important thing is your knowledge regarding this business can play an important role to develop business idea.

The best thing that can make a unique and good business idea is integrity and uniqueness. If you are different in your business terms and conditions then it will be really helpful for you to run an effective business. So, you should be innovative sort of mind to run your business and make qualitative plans in it.

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