This is one of the most common questions new clients ask me.
“You’ve heard so many business ideas. Do I have a good idea for a business?”
There’s a simple answer. You have a good business idea if:
1. You think you can do what your competition does and do it 95% percent better.
2. You absolutely love what you’ll be doing in your own business.
1. I know I can make cupcakes better than 95% percent of the bakeries in my demographic area.
2. I love baking cupcakes.
Forget about those business ideas of “being your own boss” or “making money” or “making your own hours.” You’ll quickly find out that’s nonsense.
Small business is usually a tough way to make a living.
However, if you love what you’ll be doing in your business and you’ve researched your competition and your customers, you have a good chance of succeeding.
One more thing. If any “expert” tells you that you don’t belong in business and you’re absolutely certain they’re wrong, you could be the type of owner who makes a small business succeed.