Q:How do I know if I have a good idea for a business?
A: The Small Business Administration (SBA) has put together 3 criteria for a successful business. You should be able to answer “yes” to at least one of the following: Does the product/service business serve a presently unserved need? Does the product/service serve an existing market in which demand exceeds supply? Can the product/service successfully compete with existing businesses catering to the same market niche?