10 Qualities of a Convincing and Pursuable Business Idea

We tend to formulate business ideas now and then often without even trying. But quality is more important than quantity. This mainly includes the quality of being convincing and persuasive. Thus, before you actually go for any given idea, you need to analyze it under certain parameters. These simply include 10 qualities that make an idea convincing and pursuable.

These qualities include:

1. Leaves not roam for excuses

When there is an idea, there is a great possibility of excuses for you and the ones around you. These can kill the idea to the ground at times or simply demotivate it to the point of no action. This is highly risky for the possible outcome. Therefore, you need to check and ensure that the idea can provide for all the major excuses. This makes the idea highly convincing and pursuable for practical outcomes.

2. Charms people into agreeing

An idea has no practical existence and is thus very frail. A little condemnation can kill it for good at times. Thus, such an idea that cannot survive people’s harshness is not a convincing one. A good business idea should be able to charm people and make them agree to it. This can lead to encouragement and motivation for the pursuit of the idea.

3. Solves some important problem

It better not be something that just repeats a thing already tried or something part of the ordinary. A convincing idea is the one that solves some important problem. This makes the idea both convincing and worthy to pursue. As a result, you need to filter all the ideas you have and find the one that goes with it. All it requires is to assess its possible outcome and effect on society.

4. The whole thing is simple

While the idea is novel, it also needs to be simple. This is important as a new business cannot afford complexities. These can lead to problems for the business and its intended profits. An effective way to have a simple idea is to only focus on a small part of the whole plan at the start. This lays off some tension and risk from you and makes the idea pursuable.

5. It can be easily afforded

Businesses are not like jobs; they hold some substantial costs. This cost includes in terms of money and in terms of time. Thus, you need to access the idea as per its possible cost. If it is bearable the idea is pursuable and otherwise it is not. You can also acquire some professional help for this such as business startup accounting and bookkeeping services.

6. Carries affordable risk

Businesses hold great risk. But this risk should be more than you can afford. This is more important, particularly for a new business and thus you need to assess the idea. The assessment should include the possible risks in the idea. This should be irrespective of the possible profit in the business. If the risk is affordable the idea becomes pursuable and convincing to invest. 

7. Can provide early profit

Among the prominent indicators of pursuable and convincing ideas lies one often overshadowed. This indicator is the ability to provide profit in the early stages of business. This makes the idea a highly desirable one. It is important as having profit in an early stage can drastically affect prosperity and success. These profits elevate the possible burdens and risks of business

8. You are confident to speak about

If an idea gives you the confidence to present it, there is a high likely chance that your idea is convincing. This is due to the fact that it has convinced you subconsciously. Thus, there is a great chance that it will convince others and this chance lies as hope in your mind. Another important reason for this is that you are confident as you know that it is a likable idea or relates to the people.

9. Legally possible and easy

You are trying to go for a new business idea. The fact that it is new, it carries various problems and risks. These need to be minimized to the lowest possible. This includes sorting our legal obligations and limitations. Simply put, if you find out that the idea has no legal issues and is possible, the idea suddenly becomes more convincing and the possibility of pursuing it is more likely.

10. Cover both your passion and market 

Lastly, you need to check your personal likeness and capacity for the idea. The idea should not only be enough to make the most amount of profit but also should go with your personality. An idea that goes with your likeness, hobbies, and comfort, the idea is highly pursuable. Moreover, it can convince you due to your personal relatedness. Further, the personal likeness can often overcome the possible profits.

These are the ten qualities of a business idea that make it convincing and persuasive.

Conclusion

Having and framing business ideas is a frequent activity. This leads to a vast pool of ideas. All of these are not convincing and persuasive. Thus, you need to sort and assess all of them as per certain qualities to label them as such. These mainly include the 10 qualities discussed in the article.