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How Do I Know My Business Idea Is a Good One?
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August 16, 2022
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Every successful business starts with an idea – but not every idea leads to a successful business. Starting a business requires a significant investment of time, energy, and resources. Before you make that investment, you want to be sure you’re doing so wisely.

Luckily, there’s a process you can go through to help determine if you’re on the right track – and it’s as simple as meeting with a SCORE Westchester mentor.

SCORE Westchester mentors are experienced business professionals who know what it takes to launch and grow a successful company. They work with aspiring and established entrepreneurs all of the time to assess the viability and potential of business ideas. During that process, they’ll ask questions like:

What is your business idea?

Sometimes, people know they have a particular passion or skill, and they know they’d like to make a living from it. That’s not the same as a business idea – and that’s fine. If you’re in the very earliest stages of starting your own business, SCORE Westchester can help!

It may be that you’re further along in the process and have an idea for a business. That’s when your SCORE mentor will work with you to determine if this idea is viable, profitable, and achievable. They’ll do this by helping you find the answers to more questions, like:

What problem does your business solve?

Every successful business solves a problem for someone. This can be obvious, such as when a plumber fixes a leaking sink, or it might be a less easily identifiable sort of problem, such as when a new café gives people in the community a nice place to have a sandwich and hang out.

Who will be interested in what your business offers?

Identifying who your customer is, and whether they exist in sufficient numbers to support a business, is a vital part of the development process. SCORE Westchester mentors can assist you in developing your customer profile and guide you as you do the market research necessary to make a good decision.

Can this business make money?

There are several factors involved in determining if a business will be profitable. SCORE Westchester mentors can guide and support you through this process, from identifying the costs associated with producing and marketing your goods or service, learning what prices the market will support, and more.

Ready to take the next step?

SCORE Westchester serves aspiring and established entrepreneurs in Westchester County, NY. Our services – including meeting with one or more SCORE mentors – are free and confidential. Meetings can take place in person, over the phone, via email, or via Skype.

To schedule your free session, and learn if your business idea is a good one, click here.

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