• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, October 25, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

How To Know A Profitable Business Idea

by Agency Report
10 months ago
in Feature
How To Know A Profitable Business Idea
Share on WhatsAppShare on FacebookShare on XTelegram

Just because an idea is good doesn’t mean it’s going to be profitable. That’s why it’s crucial to be critical of your business ideas. Here are some tips from experts to help you determine if you have an effective business idea.

Advertisement

 

It Solves A Real Problem

Advertisement

According to Dropbox co-founder Drew Houston, the most successful people he knows don’t just love what they do; they’re obsessed with solving real problems that matter to them. As long as people have problems, entrepreneurs like you will never run out of business ideas. Why? Because the best business ideas solve real problems!

 

It’s Set At The Right Price Point

RELATED NEWS

AVM Sunday Kelvin Aneke: Physicist, Pilot — Meet Nigeria’s 23rd Chief Of The Air Staff

Guests Attended Naming Of Our Twins For Confirmation – Woman Who Gave Birth After 40 Years Of Marriage

How Dantsoho Emerged VP Of Int’l Association For Ports And Harbour

The Enduring Enigmatic Lion: Raila Odinga’s Larger-Than-Kenya Africanist Spirit

According to Dr. Rainer Meckes, businesses that get their pricing right will thrive. But those that get it wrong risk damaging their business permanently. Excellent pricing isn’t about being the cheapest, but about how your customers quantify the value your business delivers.

 

It Has A Considerable Niche Market For It

Market size is a major factor influencing how much your business idea is worth. It tells you the number of potential buyers your business idea could possibly have within a given market, and the total income these sales may generate.

 

You Are Passionate About It

When you start a business, it’s expected that running it will consume most of your time, money, and energy. So, it’s crucial that you build a business that stems from your passion.

 

You’ve Tested Your Idea

According to Nancy A. Shenker, president of ONswitch LLC, entrepreneurs can sometimes lose objectivity because they’re so passionate about their business idea. This causes them to head straight to execution without taking the time to validate their idea. Before you spend any money promoting your product or service, it’s essential that you test your business idea with strangers who are representative of your ideal customers – not just people you know who are too polite to tell you the truth.

You Know How To Reach Your Customers

Aside from thinking about the problems your business idea will solve, you should also figure out how you’re going to market it to your intended customers.

 

Your Idea Is Realistic

According to Mark Suster, realism is important in startups. It’s normal to feel biased toward your own ideas, but romanticizing it will only stop you from truly identifying if your idea will be a big hit or not.

 

Culled from:https://www.yourdigitalresource.com

 

Join Our WhatsApp Channel

Breaking News: Nigerians at home and abroad can now earn in USD by acquiring ultra-premium domains from $3,000 and profiting up to $36,000. Perfect for professionals. Click here.

SendShareTweetShare

OTHER NEWS UPDATES

AVM Sunday Kelvin Aneke: Physicist, Pilot — Meet Nigeria’s 23rd Chief Of The Air Staff
Feature

AVM Sunday Kelvin Aneke: Physicist, Pilot — Meet Nigeria’s 23rd Chief Of The Air Staff

18 hours ago
Guests Attended Naming Of Our Twins For Confirmation  – Woman Who Gave Birth After 40 Years Of Marriage
Feature

Guests Attended Naming Of Our Twins For Confirmation – Woman Who Gave Birth After 40 Years Of Marriage

1 week ago
How Dantsoho Emerged VP Of Int’l Association For Ports And Harbour
Feature

How Dantsoho Emerged VP Of Int’l Association For Ports And Harbour

1 week ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Madagascar Revokes Nationality Of Ousted President

2 hours ago

How Billionaire Adebutu Kessington Brokered Peace Between Ooni, Alaafin

4 hours ago

Katsina Governor Radda Reshuffles His Cabinet

4 hours ago

FUDMA Gets New Vice Chancellor

4 hours ago

Basketball: Curry, Green React To NBA Gambling Scandal

4 hours ago
Load More

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
    • Football
  • Health
  • Entertainment
  • Education
  • Opinion
    • Editorial
    • Columns
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.