A business idea is an idea that you can turn to a product or service that others will buy. You can get one or more business ideas from the products/services that are currently selling in the market or from a niche, or you may come up with an idea of your own.
You will need to do some research on your idea in order to determine if it will sell. What you will need to research is, the niche that your business idea applies to, the targets in the niche that your idea will provide some value to, what those targets want/need and how your idea can meet your chosen targets’ needs and wants, and the value that your competitors are already providing to your chosen targets in the niche.
You will also need to research and determine if your idea is potentially profitable as a product/service. And will also need to test the demand for your idea etc. You can learn more about this in The Profit Blueprint.
If you have already started a business and you did not do any of these with your idea before setting up your business, you can still apply the steps in The Profit Blueprint on your idea, business, product or service in order to determine or get some idea or understanding of how potentially profitable your business/idea is, and will also get to know how to test the demand for your idea/product etc too, you can get a free trial access to The Profit Blueprint here.