A Future Guide for Business Owner Part 2

You’ve done your research and critical thinking and you still want to start a business?  Then, your next step is to determine if your idea is just a good idea or an actual business idea.

A Business Opportunity Vs. A Business Idea

Not all ideas can be turned into successful businesses. A Business Idea is an idea is that looks good and sounds good, but doesn’t meet a customers need. A Business Opportunity is is a business idea that also meets a consumer need.

Four Rules For Running Your Own Business

• Meet a consumer need

• Create value

• Keep good records!

• The customers’ needs should come first!

Homework:

Who are the people who make up your unique market? (The people in your “sphere” friends, family, neighbors, classmates, community members & colleagues.)

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