.Here’s a great advice from Ed Hess and Charles Goetz in their article “Small Business DOA: Nine Killer Mistakes to Avoid When Starting a Business”
The hardest lesson for eager entrepreneurs to learn is that having a “great idea” for a business doesn’t equate to a good business opportunity. Learning the distinction will greatly improve your chances of success. Here’s how to recognize a good business opportunity:
1) It satisfies existing customer needs and
2) Customers are willing to pay for satisfying those needs.Too many businesses fail simply because the entrepreneur doesn’t take the necessary steps to ensure he is pursuing a good opportunity. Don’t get so attached to your business ideas that you try to force a business to work. If you do, you’ll lose every time.
