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How to tell if you have a great idea

There’s plenty of money out there for great ideas. How to tell if you’ve got one.

There’s plenty of funding if you have a good idea.

Somehow, a bunch of entrepreneurs got it into their heads that good ideas go unfunded. It’s just not true. Because part of what makes something a good idea is the fact that the founder can convey that it’s a good idea. And in the world of funding, there are rules about how one conveys a good idea. You need an addressable market. You need to solve a problem for that market. There needs to be a way to make money. A lot of it. And there needs to be a barrier to entry.

I’m blown away by how many founders think they can get away with not having one of these things. You could have a weakness, sure. But you have to have the essential components of a good company, or you don’t have a good company.

There are plenty of people who will give you feedback on your idea. It takes very little knowledge of the startup world to recognize a crappy idea, because most ideas are so crappy in so many ways and you only need to be able to see one of them.

…to read this article in full, visit leading US small business resource, Inc.