The Business Idea Merit Test

A business idea is merely a thought or concept that has not yet materialized. They are a dime a dozen, and almost everyone has conceived a product or service idea. Your idea only has merit if it adds value or solves a problem for the intended consumer without too many limitations or disadvantages. The window of opportunity has to be right by providing something beneficial that is currently not offered by direct and indirect competitors. And you must also be willing to modify it if necessary.

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