Activator230822
Verified member
As far as I am concerned, many entrepreneurs have failed to succeed in their businesses startups not because of anything but the lack of that capabilities that is supposed to be used in order to come up with the right business idea.
Therefore the following are the tips that can guide one to derive you to the right business idea and that that can be successful when put in practice.
-Identifying the absence of the business idea.
You must make sure that the business idea that you intend to start on it it's not available on the locality or it maybe available with insufficiency.
Therefore you are likely to succeed when you put the idea into practice in the evident of this situation.
-Determination of the market size.
Think critically about the size of the market available in the locality. Does the available market adequate to cater the existing business ideas and that of yours. A larger market size would satisfy more business ideas in the locality than a smaller market size.
Note that the market size is determined by a number of factors, these are;
The population of the area in question, The number of already existing business ideas (competitors) among some other crucial factors that can affect the market.
Therefore the following are the tips that can guide one to derive you to the right business idea and that that can be successful when put in practice.
-Identifying the absence of the business idea.
You must make sure that the business idea that you intend to start on it it's not available on the locality or it maybe available with insufficiency.
Therefore you are likely to succeed when you put the idea into practice in the evident of this situation.
-Determination of the market size.
Think critically about the size of the market available in the locality. Does the available market adequate to cater the existing business ideas and that of yours. A larger market size would satisfy more business ideas in the locality than a smaller market size.
Note that the market size is determined by a number of factors, these are;
The population of the area in question, The number of already existing business ideas (competitors) among some other crucial factors that can affect the market.
