580. How to know if you have a good business idea

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The number one question we get from the hundreds of entrepreneurs we have coached over the past several years is “How do I know if my idea would make a good business?”. You can have a ton of good ideas—and they could all be equally good—but you can only ever chase one at a time. You have to invest into one so far and so deep that it has enough momentum to run on its own so you can invest the momentum, the income, and the lessons learned from that into the second idea. We’ve developed a framework for evaluating your ideas to find out which is the right fit before you dedicate your all to it.