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A good business idea could be an invention, a new product or service, or an original idea or solution to an everyday problem.
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It might also be:
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a gap in the market that you can fill
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a business related to the work you do already
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turning an interest or hobby into a business
Whatever your idea is, you need to be sure that it fits with your needs as an individual, as well as being a viable business proposition. Ask yourself some questions about it, for example:
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What is it that you will personally bring to the business in terms of relevant experience and expertise?
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Is there a market - a need for the idea, and customers who will pay for it?
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How big is the market, and how will you reach it?
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Who will be your main competitors?
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What is special about your idea, making it different from similar products or services already out there?
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How will you fund your business idea?
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What might go wrong?
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If you are an ambitious entrepreneur or an aspiring executive
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