Hello Jewels, I must confess that this question is of immense importance to young people in the business world, and I like the way in which you professionally asked the question.
To respond, there are several things that could be used as a proof that a business idea will succeed or stand the test of time. I would make mention of two things: prototyping and research. In prototyping, the business idea should be tested in a bid towards receiving feedback from potential customers. This would expose the loopholes in the business idea and give one an opportunity to make it better. Also, a thorough research should be conducted to analyse the market in which the idea would be implemented. By analysing the market, one would have a thorough understanding of how other businesses have thrived and failed, and one would know their major clients, possible partners, sponsors and potential competitors. To understand the business idea torun with or discard, a thorough feedback should be sought from potential customers.
Hello Jewels, I must confess that this question is of immense importance to young people in the business world, and I like the way in which you professionally asked the question.
To respond, there are several things that could be used as a proof that a business idea will succeed or stand the test of time. I would make mention of two things: prototyping and research. In prototyping, the business idea should be tested in a bid towards receiving feedback from potential customers. This would expose the loopholes in the business idea and give one an opportunity to make it better. Also, a thorough research should be conducted to analyse the market in which the idea would be implemented. By analysing the market, one would have a thorough understanding of how other businesses have thrived and failed, and one would know their major clients, possible partners, sponsors and potential competitors. To understand the business idea torun with or discard, a thorough feedback should be sought from potential customers.
Thank you!