In terms of business as a whole, business idea is a starting point, a basement of a pyramid, necessary for the future life of a business and an entrepreneur. It is important for the initial stage of a startup, however its results will affect all phases of the company’s development.
A promising business idea has these characteristics:
- Customer need is fulfilled, their ‘problem’ or need is solved
- It is innovative, unique
- It is profitable in the long-term run
- It has clear focus
In EAL Incubator, we put great emphasis on having a strong basement of your startup by keeping you on the right track.