IDEA EQUALIZER

Here is a test I call the Equalizer. It is straight forward and gives instant answers. It is not confusing neither is it complex. It is a 5-questions pack. What is that idea that you think is a million dollar profit business idea? Let’s test the Equalizer.

Q1 – Is it a solution? Business ideas are meant to solve human problems. If the idea you have can solve any problem you have identified, that means it will work and might be a good idea. Any idea which is incapable of solving any known business or societal problem can never be a good business idea.

Q2 - Is it user-friendly? The busy customer avoids complications as much as possible. If an idea promises to be user-friendly and easy to implement, it is a good business idea. Most people nowadays don’t want anything that will pinch them mentally; they want easier alternatives.

Q3 - Is it innovative? If an idea solves a human problem better than what people already know, it will generate interest and patronage without doubt and hesitation. That makes it a good business idea.

Q4 - Is it worth the time and energy which will be invested in it? If an idea can yield benefits which far outweigh the time and energy efforts put in, it is a good business idea. Any idea which largely leads to waste of time and energy cannot be a good idea.

Q5 - Is it in line with trends? Any idea which conforms to the trends is a good business idea. You must look at trends and find out if your idea is in tune with the trends. You cannot use a 19th century idea to solve a 21st century problem. You don’t also sell Santa toys in Easter.

Now if your answers are all “Yes”, then you have a viable business idea. But, if otherwise, brainstorm and look deeper inside; there is always a unique idea in each and everyone one of us.

NOTE: You can re-take the Entrepreneurship IQ test here again.

From the book: My Small Biz Kit.

An exposure of extreme and rugged business and marketing tips for lasting business success in a "not rocket science" simple approach. Order the eBook now.