We're a transparent startup founded by Aviel Ginzburg and Damon Cortesi building solutions in the social media and public relations spaces.

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A business idea is not necessarily a business opportunity.

Mar
22

It sounds straightforward enough, but it really isn’t.  An idea on it’s own, of any kind, isn’t much.  I always say it, and now I’m living it.

  • How do you guys define the difference between a business idea and a business opportunity? If it doesn't make money, its not even a business anything in my book. You might call that a product idea if there's not a business model behind it.
  • It's more that a business opportunity solves a proven problem, where as a business idea "potentially" solves a problem. Both are businesses and both can make money.

    The way we look at it is that you can come up with an idea, then do research to validate the solution by finding the problem or, better yet, you can start with a problem and find a solution.

    In our case, we're doing research into the coupon/discount space, which has proven business models. It's also a proven opportunity, as there are measurable needs that people in that space have that can be solved. Alternatively, simply looking at the space, and conjecturing what they need without asking them, is more a business idea.
  • Make a service that is useful to some people, and charge for it!
  • Very true! Monetization is key. Testing it out will help determine it's stickiness but it's good to have a revenue model strategy in place otherwise it may just be a cool idea.
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