Identifying the Best Business Ideas
Use the five principles below to evaluate your list of ideas. Also, use Exhibit 5.6 to evaluate and remove ideas that donâ€™t look promising. If you delete an idea, state in 1-2 sentences why you deleted it. Select one idea per group. State why it is a good idea based on the five features above and Exhibit 5.6.
Real Business Opportunities have the following features:
- They create or add significant value to the customer
- They fix a real market â€œpainâ€ or difficulty for customers
- The problem is urgent and pervasive and the customer is willing to pay to fix it.
- The opportunity has strong market, margin, and profitability
- The founders and management team have collective experience in the area of business
Around 800 words? cover all the things need to cover
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