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If you go to most entrepreneur meetings, everyone introduces themselves by first stating their names and then continuing with saying something like "My business idea is…".
Starting a business requires a business idea, but where do they come from? God is the source of all good ideas, but no one ever truly knows if their business idea is a great one or not until the business succeeds.
Great ideas come by faith, and they are born out of passion. A business idea is a thought that exists in the mind that can be turned into a product or service. It is an intellectual property that is just as valuable as land or any other physical asset. Business ideas are plentiful, but great business ideas are rare.
"For many are called, but few are chosen." - Matthew 22:14 (NKJV)
When an idea is first conceived, most entrepreneurs will express a lot of passion around the idea, but there is no certainty that it is a great idea. Its success is dependent upon the entrepreneurs' belief in the idea, their continued commitment to bringing the idea to life, and their perseverance.
Having faith in your idea will drive everything forward. It will lead you to build a team, persuade investors and consumers of its worth, and eventually create profit. Having faith in your idea will also enable you to create more products and services and grow your business. However, if you have a bad business idea, you are likely to struggle to rally support for your business and may not be able to launch the business successfully.
How can you tell the difference between a good idea and a bad one?
Here are seven questions that can provide you with a framework for a good idea:
- Are you passionate about it?
- Do you have the gifts, skills, and experience to carry it out?
- Is it unique, and can you monetize it?
- Is there a growing market for the idea?
- Does the idea align with your calling?
- Can you articulate it clearly, and rally others around it?
- Would you do it for free?
Use this framework as a guideline to help you measure and then define your business idea.
Be original. Do not just copy other people's business ideas no matter how good they may seem or how successful they may be. You will not find fulfillment in business by copying others.
Fulfillment in business comes when you develop ideas that align with the way that God has made you and also with what He has called you to do. The best and most fulfilling ideas start with a passion. Find something that excites you and has a unique ability to impact your community and even change the world.
Would you do it for free?
The "would you do it for free?" test does not mean you cannot make money with your idea. Rather, it is a test of your passion. Do you enjoy it so much that you would do it for free? In business, there are many times that you may have to do just that before your business begins to take off. If you could not or would not do it for free, you will not be able to persevere long enough to become successful.
My prayer for you is that God will give you the grace to conceive a unique and great idea that aligns with your calling and passion and that will give you the potential to realize His will in the marketplace.
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