Most entrepreneurs have an abundance of ideas but have a difficult time determining which one is worthy of their time. Who wants to pour a bunch of energy and money into a project, company or product that may give little return on investment? Nobody.
You always give something a whirl because you think you can make it successful.
Wouldn't it be cool to know an idea will be profitable before you begin? Can I hear a HELL YEAH?!
The most important evidence of future profitability is passion for the idea. You want to be able to dig into it and stay excited from beginning to end. If the idea will take years to implement, will you be able to remain enthused, daily, for the next five years?
I recently came up with a brilliant idea for a year long coaching program that would only be $97 a year with huge value given to the participants. I even mapped out a plan for how that program would generate even more sales. Yet, every time I considered the amount of time my team and I would have to invest, my passion fizzled.
After two weeks of ruminating on the idea — and never feeling 100% excited — the idea got nixed. It wasn't good enough to make me jump out of bed in the morning.
Which is the opposite of how I feel about my upcoming launch of my newest program. I've been working on it for over six months and I'm still in the honeymoon stage: in love, excited and willing to talk about it for hours.