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Small Business Ideas Forum

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Old 24th January 2012, 09:57 PM   #1
AngelBiz
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Default How Can You Tell If Your Business Idea Will Succeed?

Majority of small businesses fail in the first three years. As remarkable as this statistic is, it doesnít stop number of aspiring entrepreneurs from pursuing their dream of owning a business. They think about their idea as the best thing since sliced bread was invented and are convinced that there is a huge untapped market out there that nobody as cracked. They have run their idea by close confidants and got their endorsement. Uncle Bob likes their product and Aunt Ann canít wait to get her hand on it. There is only one problem. It is still an idea in your head!!!

So how do you go past this ďpie in the skyĒ idea stage and make it a reality? Even more important, how do you know that this idea will succeed and will not leave you with agony and angst when itís all over?

Read more - http://www.angelbusinessadvisors.com...-will-succeed/

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Old 30th January 2012, 10:08 AM   #2
paulplan2profit
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Default Prove it then test it

Complete a financial forecast to prove the concept then go and test to see if the people you THINK will buy in actually WILL do so.

good post

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Old 30th January 2012, 12:24 PM   #3
trade-show-diva
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A very good question...
I think one answer is to ask your friends, and then actually listen to their advice. The challenge is that often the ideas that end up being successful are the ones that nobody thinks will work... so sometimes, you just have to believe in yourself, no matter what your friends say.
You also have to know when to keep going, and when to give up!
Easier said than done.

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Old 21st June 2012, 02:11 AM   #4
Punit
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Hey AngelBiz,

I would do following things to make sure my new business will not leave me with agony:

1. Proper Service/Product analysis & its local market analysis.
2. Marketing smartly my product or service
3. Ability to deploy that service/product within time.
4. Financial Backup to bear the business operating cost including manpower machine, utilities etc for atleast next 6 months.
5. Above all, a consistent hope & belief & blessings!

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Old 24th June 2012, 05:04 PM   #5
AngelBiz
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Quote:
Originally Posted by Punit View Post
Hey AngelBiz,

I would do following things to make sure my new business will not leave me with agony:

1. Proper Service/Product analysis & its local market analysis.
2. Marketing smartly my product or service
3. Ability to deploy that service/product within time.
4. Financial Backup to bear the business operating cost including manpower machine, utilities etc for atleast next 6 months.
5. Above all, a consistent hope & belief & blessings!
Punit - Good points. Thanks for bringing them up.

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Old 25th June 2012, 01:44 AM   #6
Punit
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Quote:
Originally Posted by AngelBiz View Post
Punit - Good points. Thanks for bringing them up.

Thanks Harry
Would be glad to participate in your interesting discussions again!

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Old 25th June 2012, 11:09 PM   #7
ChrisLeads
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If you see the results that you want.

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Old 9th July 2012, 08:40 AM   #8
Allen Brayan
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I believe in-depth research of the business you're willing to start, strong faith in your business skills and staying persistent are the key in any business success.

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Old 23rd July 2012, 03:26 AM   #9
Marco Holmes
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You can get great advice from successful businessmen who decided to share their success strategies - I find The Customer Magnet by Michael Cheney radically eye opening.

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Old 25th July 2012, 05:19 AM   #10
accurate.cygnet
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I personally believe in pursuing the idea, after basic research and analysis, if you are confident that there is a need of your product/services, then just say go for it. Do not wait for anything (like is it worth or not), simply go out there, meet people and start working on your idea.

But please don't procrastinate. It's the worst enemy of entrepreneurs.

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