Good business idea

[subhamoy]

Hello Friend,

According to me, a good business idea is one that gathers all these conditions:

- it isn't based on any short term trend
- it doesn't need to target multiple markets
- it is something that will be purchased many times by the same customer
- it needs little work/labour to be operated
- it can be advertised easily by words of mouth
- it needs almost zero investment
- it can be operated from almost any location, any country.
- it doesn't rely on anyone else than you
- it's not season-dependant
- it's become to a distributor
- it's increasing your residual income
- it's legal

What do you think?

With Thanks and Love

[jasaunders]

I disagree with 6 of your 12 conditions.

[ChiTown2222]

I would have to say that i disagree with many of your conditions as well. There are many highly successful companies out there that don't have many of the conditions that you listed, its all dependent on the company and the product.

Golf courses are seasonal in many parts of the country,... most of them certainly do well. I'd name more examples but I don't feel its necessary.

[ltressel]

Anytime it's a pitch for an MLM-it's a bad idea over all.

LT

[zoobie]

Some things true; some things not.

[FLF82]

Its hard to agree with you on that one... there are so many successful business ideas that would contradict with your opinion.

[akula]

Hello Friend,

According to me, a good business idea is one that gathers all these conditions:

- it isn't based on any short term trend
- it doesn't need to target multiple markets
- it is something that will be purchased many times by the same customer
- it needs little work/labour to be operated
- it can be advertised easily by words of mouth
- it needs almost zero investment
- it can be operated from almost any location, any country.
- it doesn't rely on anyone else than you
- it's not season-dependant
- it's become to a distributor
- it's increasing your residual income
- it's legal

first of all, there's no such thing as a "good idea". there's only a "good opportunity" (where "good" is defined in relative terms)

secondly, whilst your points are valid to some extent, they're inconsistent with standard diligence criteria used by private equity professionals in the process of allocating investment funds

for example; from a vc perspective, an opportunity that fails your checklist but is managed by an entrepreneur who has a track record for generating successful exits, will almost certainly be termed as a better opportunity than something that does pass your check list, but is managed by a B grade team.

Likewise, from the founder's perspective, many opportunities are driven by lifestyle; so for a someone who is interested in doing landscaping for public parks - whilst the opportunity fails your checklist; it will again be deemed a better opportunity than something that qualifies your list

Opportunity selection is a complex process; it's relative in nature (i.e. there's no such thing as an absolutely good opportunity, there's only opportunities which are better than alternatives), and it's dependent on personal fit to the lifestyles of the people involved.