Questions

It does not have to be unique. Simple ideas are enough, just keep in mind that it must help the masses out there struggling with a problem, thus creating a gap in the market. Having an idea is important.
The mere definition of the word business brings to the fore the importance of the idea. At the heart of every business is a product or service. The business idea creates a reason to invest and it also creates sales and profit. With sales and profits come the scope to invest in more products and services, enabling the business to grow. All that said, if you have a bad idea, you are more likely to face competition. In turn, this will lead to reduced sales and profits, meaning the business is less likely to grow and may struggle to survive. Ideally, it should be a product or service that is difficult or impossible for others to copy. Competition from other businesses only does one thing, reduce profit. That said, monopoly businesses do not have to be another Google or Facebook.
You can read more here: https://medium.com/better-marketing/why-your-business-idea-is-the-most-important-thing-in-your-startup-48d0c7728888
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath


Answered 4 years ago

Unlock Startups Unlimited

Access 20,000+ Startup Experts, 650+ masterclass videos, 1,000+ in-depth guides, and all the software tools you need to launch and grow quickly.

Already a member? Sign in

Copyright © 2024 Startups.com LLC. All rights reserved.