What is a Great Business Idea?
Generally, a really great business is one that is a pioneer in its industry (meaning that it’s formed from a brand-new business idea, not recycled), requires a small investment, has a high demand from the public, takes over and maintains a large market share in its industry and requires low maintenance on the part of the owners. A great business has a high return on investment and will manage to turn a profit within the first few years of operation. Also, a really great business idea will manage to help the community in some way, be seen as ethical by the majority of people and improve the quality of life for users. How Are Great Business Ideas Developed? Great ideas for businesses usually come from open-minded people who identify a solid need and have the know-how and technical knowledge to fill that need. Late night television is full of infomercials displaying great new inventions that were developed in basements and garages or just by people who needed a personal problem solved. In
