How to Know If Your Business Idea Is Profitable

May 4, 2017

Will your business be profitable? Let’s get started.

Here is the assessment you’ll need to know if your idea is profitable. This will help you figure out where you should be putting your time and energy. This will make sure you start the right business for you.

1. PROBLEM - This is where you absolutely have to talk to potential clients and interview them and ask them what keeps them up at night and what their challenges are.
2. PAYMENT - In order to start and grow a business you have to be crystal clear how your business will make money and that your clients will pay for it.
3. PEOPLE - You want to know who your ideal client is, what she or he loves doing, how old she is, what education she has, what job she has, what she does in her spare time, what books he or she reads.
4. PASSION - I am not all about making money the focus in your business, it’s important of course that your business is profitable but you need passion to get you through the tough times.

Create an offer:

Here are the five things you need to have in your offer to create an offer that sells itself:

1. You need a deadline or a reason for the customer to buy now.
2. You need in an offer is that you need to touch on what is missing in your client's life.
3. Your offer needs to have is that it needs to have hope.
4. You need in your offer is social proof.
5. Trust.