How do I identify a viable business idea?
I am interested in entering entrepreneurship however I am unsure what business problem I should start with? How do I go about identifying potential business problems and how do I effectively evaluate each of them?
Paddy Tan Posted new comment November 28, 2023
Identifying a viable business idea is like an exciting adventure. Delve into your passions, seek solutions to problems, map out your target market, learn from competitors, test your idea, assess finances, seek guidance, be adaptable, and never stop learning. Embrace the journey and make a difference.
rndy Answered question November 24, 2023
Observe and listen to people’s pain points help actually
Pay attention to the everyday struggles and frustrations of people around you.
What are the recurring problems they encounter?
What solutions do they currently use, and how satisfied are they with them?
Identify areas where there is a gap between the desired outcome and the current reality.
And if they are willing to pay for it? Many people want others to solve problems for them but not willing to pay. If they are not willing to do so, then is not a viable business to start or continue