• Wade Myers

What Are Some Good Business Ideas for a Startup?

The best startup business idea for you will be at the nexus of the following critical items:

  • The business solves real customer pain and meets unmet needs in a new and unique way

  • The business and its offering(s) are clearly your calling and your purpose – you must have a crystal clear purpose, vision, mission, and strategy that all are aligned with every fiber of your being and with your values

  • The business leverages your skills, training, education, experience, professional training, and industry networks

The more new things an entrepreneur is experiencing while attempting to launch a new venture, the greater the risk and the higher the likelihood of failure
  • The business is within the scope of what you can deliver in the near-term in order to get launched and in terms of the resources you currently have or that you can gain control over, such as the initial investment of time and money

  • The business fits the context of what you are trying to achieve in terms of the work, the lifestyle, the level of potential earnings, etc.

  • The business has a high-quality business model in terms of the market opportunity, the financial characteristics, the operational characteristics, the offering characteristics, and the customer relationship dynamics

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