5 Ways to Tell if You Have a Killer Business Idea

December 18, 2019

Admit it: you’ve been thinking about it for a while.

On good days, you even let yourself fantasize about what it would be like if your idea came to life… and it felt really awesome, didn’t it? 😉

This issue is you’re still not sure whether the idea you have is really as good as it sounds in your head.

The idea of running your own business… and preferably, a business you’re passionate about… a huge dream for many.

But how do you know if you’re on the right track?

The truth is, sometimes you won’t know until you try.

So, before you invest serious money in your business, see if any of these signs are telling you that you have a GREAT business idea!

1. You can see there’s a demand for the product/service you have on mind.

If there’s a demand for something and no one’s offering it yet, it’s only a matter of time before someone fills the gap. So why shouldn’t that someone be you?

And we’re not talking only about seeing what the people around you want or need… what does the online community say? Reddit, Facebook groups, social media channels? All of those are gold mines for market research without spending a dime!

Here’s a great example of seeing there’s product demand and taking action:

I know the story of a very successful fitness coach that noticed how new moms want to lose pregnancy weight but struggle to find the time to meal prep and exercise.

The problem was, regular fitness programs didn’t take into consideration the fact that postpartum moms are going through a major life change and don’t exactly have the time to prep complex meals every day or hit the gym five times per week.

So she created a fitness program specifically for postpartum moms. Her program consists of simple yet nutritious meals and a variety of home workouts that a mom can do anytime she wants, and now she has a THRIVING business.

2. You don’t only know your target audience… you’re a part of it!

One of the main reasons why personal brands took the world by a storm is exactly this!

When you’re a part of your target audience, the people that are supposed to be your clients already trust you more than they’d trust someone who isn’t.

You’re not another sales agent… you’re one of them!

On top of that, you have an absolute advantage over other businesses: your ideal client is someone just like you! That makes it extremely easy to fill out an exact customer profile without spending hundreds of dollars on market research!

3. You know your USP (Unique Selling Point).

Before we dive into your USP, I want to let you know that even if you see someone else already doing what you’re thinking about doing, don’t take that as a sign to stop. It’s actually good to see that your business idea is profitable in real life!

Now, for your USP… Your USP is what makes your brand stand out from everyone else in your market. It’s what customers find appealing about your unique business.

As long as you know what makes your brand special, you’re already one step ahead of all the other businesses out there!

4. You feel good thinking about it.

This is the ULTIMATE sign— if you can feel all the good vibes each time you think about it, then you’ve hit home!

That’s your gut talking to you, and it’s telling you that this is something you want and is fully aligned.

Besides, since you’re going to be doing this for years, you need every single ounce of excitement and passion to help you push through the hard times and persevere!

Pro tip: Share your idea with others and see how they respond to it. Are they impressed? Amazed? Blown away? If yes, you may be onto something!

5. You can build upon it.

The best ideas are the ideas that let you build upon them. And really now, who’s to say that a small business can’t grow into a real empire?

Think about it… how can you expand your idea?

Maybe you can develop a product that brings you some sort of passive income. Perhaps your physical product is so good, it’s soon going to hit the shelves around the country. Maybe you can add another line of income or expand your team to bring on more clients and customers.

And if you see yourself nodding here, you’re on the right track!

Are you ready to turn your business idea into reality?

You could do that in 12 short weeks, right from the comfort of your home: click here to get started and learn what it takes to build a business that’s as unique as you are!

You may also like