A human is always striving for something new and better. The needs, preferences, habits of such people change, increase, or decrease according to the existing product offered and not vice versa.  The customers buy the product as they want to satisfy their needs, or solve their problems.  Thus, the first characteristic of a successful business idea is that it clearly describes what needs to be met and in what form (product or service).  A business idea shall offer a solution to a problem that is important to the potential customer. All of the mentioned serve as the main means of differentiation for a business idea to ensure market success. 

A business idea shall offer a solution to a problem that is important to the potential customer. All of the mentioned serve as the main means of differentiation for a business idea to ensure market success. The focus on the customer expresses the Company’s desire to provide itself with the most reliable method of achieving and maintaining high profits. Formula: A person instinctively...