• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, June 26, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • 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
6 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

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!

 

RELATED

TETFund: Boosting Labour Market Prospects For Varsity Graduates

Examining Echono’s 3-year Digital, Research-Driven Transformation At TETFund

3 hours ago
NAGGW: Curbing Desertification Through Collaboration, Sensitisation

NAGGW: Curbing Desertification Through Collaboration, Sensitisation

4 hours ago

It’s Set At The Right Price Point

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

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Business Idea
SendShareTweetShare
Previous Post

Group Reaffirms Legal Status, Warns Against Unethical Practices

Next Post

Former Abia NUJ Chairman Appointed TNP Media Adviser

Agency Report

Agency Report

You May Like

TETFund: Boosting Labour Market Prospects For Varsity Graduates
Feature

Examining Echono’s 3-year Digital, Research-Driven Transformation At TETFund

2025/06/26
NAGGW: Curbing Desertification Through Collaboration, Sensitisation
Feature

NAGGW: Curbing Desertification Through Collaboration, Sensitisation

2025/06/26
Governor Sanwo-Olu @ 60: Celebrating A Man Of Vision
Feature

Governor Sanwo-Olu @ 60: Celebrating A Man Of Vision

2025/06/25
No Toilets, No Safety: 1,300 Kano Pupils Face Health, Rape Risks At School
Feature

No Toilets, No Safety: 1,300 Kano Pupils Face Health, Rape Risks At School

2025/06/22
Ojude Oba: A Cultural Festival With Global Appeal
Feature

Ojude Oba: A Cultural Festival With Global Appeal

2025/06/21
2027: The Jostle For Yobe Guber Seat
Feature

2027: The Jostle For Yobe Guber Seat

2025/06/21
Leadership Conference advertisement

LATEST

Governors, Political Associates Converge On Lagos As Sanwo-Olu Marks 60th Birthday

Cross River Gov Reiterates Commitment To Agricultural Transformation

Federal Gov’t Decries Rising Drug Abuse

Senate Approves N1.485trn 2025 Budget For Rivers Amid Oversight Concerns

Reps Okay N1.13trn Customs’ Budget, Want Excise On Telecomm Services, Others Re-introduced

Experts Task Gov’t On Use Of Social Cohesion Data For Development

Hijrah: Ansar-ud-Deen Urges Leaders To Prioritise Justice, Good Governance

Gunmen Kill Businessman, Son, 1 Other In Kwara

UI Career Development Centre Laments Students’ Mental Health Crisis

Stakeholders Back Establishment Of Special Health Institutions In N/West

© 2025 Leadership Media Group - All Rights Reserved.

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

© 2025 Leadership Media Group - All Rights Reserved.