• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Friday, October 3, 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

Katsina @38: Radda’s Green Revolution

How CBN Is Loosening Without Letting Go

I Have No Words! Mother Shares Joy of Having Quadruplets In Bauchi

Embers Of Tradition: Gombe’s Blacksmiths Fight For Survival

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

SendShare10169Tweet6356Share
Agency Report

Agency Report

OTHER NEWS UPDATES

Katsina @38: Radda’s Green Revolution
Feature

Katsina @38: Radda’s Green Revolution

3 days ago
New Policy Direction… 1,358 Projects Threatened As CBN Stops Intervention Funding
Feature

How CBN Is Loosening Without Letting Go

4 days ago
I Have No Words! Mother Shares Joy of Having Quadruplets In Bauchi
Feature

I Have No Words! Mother Shares Joy of Having Quadruplets In Bauchi

5 days ago
Advertisement
Leadership join WhatsApp

LATEST UPDATE

Rep Urges Youth To Join Politics

2 minutes ago

Taraba State Gets $268.63m Funding From ECOWAS Bank

7 minutes ago

Governor Idris Urges Youths To Embrace Peace, Unity

8 minutes ago

Borno Strengthens Ties With Niger Republic On Border Security

8 minutes ago

Nigeria At UNGA 80

13 minutes 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.