zailen

Member
Hi, I have over 70 ideas for businesses. I've recorded them all in evernote.
I've heard many people say to pick something that you are excited and are passionate about.
While I think that's great advice, does anyone have a good method for whittling down many ideas to the top few?
 

Edvin

MVP
Wow, those are lot of ideas. Well, here are some strategies that you can try exploring

  • Net sales ratio (or net profit percentage)
    Net sales ratio = Net_Income_Before_Taxes / Gross_Revenue
    I'm sure there are many good resources; but, here is a quick

  • Competitive landscape
    Is it online or brick & mortar. If the latter; how strong is its pool against existing and established businesses.

  • Can you mimic existing business model to help expedite your efforts

  • How much capital investment does the business need, and do you have the means to execute on it

  • Can start the business as a pilot and deal with incremental expense
 

zailen

Member
Thank you, those are good suggestions.

All my ideas are, so far, either online, or deal with meeting in public places. Bringing that up helped clarify that detail, thank you.
 
Top Bottom