Business Owners & Entrepreneurs Podcast With Peter Boolkah | Business Coach | The Transition Guy®

Many people have business ideas that seem like they might work. But how can you really tell if you have a good business idea or business concept that’s likely to succeed in a crowded marketplace? In today’s episode, I share how to know whether what you have is a viable business idea or not.So, you have a business idea that you’re excited about that you want to test on the market. Perhaps you’ve told a few friends about it, and they’ve encouraged you to go ahead with it. But there are other things to consider before you invest your life savings into making it work.For example, does your business idea or business concept address a want, need, or desire in the marketplace? To know if you have a good business idea or a viable business idea, you have to know which category yours lies in today’s crowded marketplace.If people WANT a product, they’ll be prepared to spend money on it. When people NEED a product, they can’t go without it, so this automatically compels them to purchase it. DESIRE, on the other hand, is