5 Ways to Hatch Your Next Business Idea

5 Ways to Hatch Your Next Business Idea - In his book "Maverick Startup," serial entrepreneur Yanik Silver lays out his "X Factors" for turning your big idea into a profitable business, without taking on debt, partners or even a business plan. In the following excerpt, Silver guides readers through X-Factor No. 1: Developing a big idea.

 5 Ways to Hatch Your Next Business Idea

If you don't have a big idea, you simply fade into the background like every other "me too" product or service. It's not always about having a proprietary product or service. This is really more about positioning and a prospect's immediate reaction to your product.5 Ways to Hatch Your Next Business Idea

That's one of the key elements of the big idea -- gut reaction. With our world being busier than ever, people usually don't have time to explore absolutely everything about a product or service. We use shortcuts for our decision-making. The more clearly you can distinguish your product or service, the better you'll do in the crowded marketplace.5 Ways to Hatch Your Next Business Idea

Working on your big idea is critical and means the difference between a "base hit" or a "home run" product. What follows are five major things I keep in mind when coming up with a big idea or hook.

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