Will My Idea Be A Successful Business? How Will I Know?

To answer this question you must know that there are generally certain characteristics of the ideal start-up business. Among them you can list those that are very important for you as well as those that are less important in your situation. 

Here is a list of characteristics of the ideal business:

  • Uncomplicated and easy to run
  • Low start-up costs
  • Low running costs
  • High rewards
  • It should not have to deal with any stock issues, such as storage, delivery and suppliers – it had to be a service!
  • Scalable product/service – build once, sell many times
  • Scalable workers and systems
  • Scalable and predictable sales model
  • Repeat customers/ business
  • Word of mouth opportunity
  • Niche market in demand
  • High velocity and large market
  • Healthy cash flow
  • Attractive to be bought or merged
  • Limited exposure to legal issues
  • Own relationship with and information about customers
  • Memorable product/service and name

To give you a few examples of such businesses I can mention a cleaning niche – domestic cleaning, office cleaning, carpet cleaning, gutter cleaning, oven cleaning, window cleaning, gardening, tree surgery, grass cutting, holiday services – watering plants, feeding pets and more, handyman services, waitressing and help for all events, wait in services – e.g. deliveries and many more.

All the business ideas mentioned above are relatively inexpensive, shoestring start-ups. But no matter how much money you have, the points above are worth bearing in mind, because during the start-up phase of a business, every penny counts