Tuesday, November 24, 2009

Good business ideas

"Is this a good business idea?"

It is a question we are often asked after discussing a business with a prospect.

The answer is often difficult, not because we want to avoid disappointing the prospect, but that we don't know whether it would work or not.

If a town does not have a certain type of business, does that mean there is not a big enough market for that business (and so it would not stay in business) or does it mean no one has tried it?

I would hazard there are people right now running successful businesses, who if they had brought me that very business idea, I would have recommended against it.

So if you are looking for me to peer into the future, I cannot.

What I can say is that the questions I ask, the issues I recommend you research and the items you have to discover on your own, will be ones whose answer will make your business more successful, and you more capable.

Many people try to learn a foreign language or a musical instrument; most fail. But if you ask me whether it is a good idea to try to do so - I can only give you insight into what it would be like, not what it will be for you.

If over the holiday(s), you get inspired or come up with an idea for a business, come on by and let's discuss it. You might discover that it is a good idea and one you want to pursue or that on investigation, it is not one you want to pursue.

Either way, have a nice Thanksgiving!

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