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Is Your Good Idea A Good Business Opportunity?

Updated: May 24

Great ideas are everywhere—but how do you figure out if your great idea can actually become a successful business? I’ll teach you a simple, repeatable model to test your ideas for viability. Before you dive headfirst into launching a business or developing a product, let’s figure out if it’s worth the time, energy, and money.



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Coming up with ideas is the easy part—every conversation, frustration, or shower thought can spark a new one. But turning a good idea into a successful business? That’s where the real work begins. The truth is, not every idea is meant to be a company. Some are exciting but not sustainable. Others might solve a real problem, but lack market demand or a way to scale. Before diving headfirst into branding, building, or fundraising, it’s crucial to take a step back and ask: Is this really a business opportunity—or just an interesting concept? A great way to find out is by applying a simple, repeatable model that tests for viability. This means looking at things like customer pain points, market size, willingness to pay, competition, and your own ability to deliver. The earlier you test your assumptions, the more time, energy, and money you save. It’s not about killing ideas—it’s about refining them into something worth betting on. After all, the goal isn’t just to start—it’s to build something that can actually thrive.

 
 
 

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Martin J Whitman School of Management 721 University Ave, Syracuse, NY 13244

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