Word Edge

Next time you sit with your business idea and you wonder if it is worth it, think about your idea in terms of the following:

✅Even though this is already in the market, does my idea take a different approach? When you take a different approach to an existing idea, you widen the market gap between your business idea and the competition hence creating a larger market for your product.

✅Think about how your product/service solves a problem or will solve a problem.

✅Sustainability - although your product/service may solve a problem, often times business make a premature exit from the market because there is not really an on going need for the product/service. Consider if there is an ongoing need for your product/service or if it is just a seasonal need.

✅Scalability - Check the existing market and build into your business plan the possibility of your business to be flexible enough to grow and adapt in future.