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Is Your “Make Money Online” Business Idea Worth Pursuing?

Profile photo of Sunday William Submitted by Sunday William April 8, 2016

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Many people desire the independence and profit of running an online business. In doing this, they soon come up with amazing ideas that could be executed to achieve their goals. Indeed, some ideas are worth pursuing, but others are pure fantasy and waste of time.

Therefore it becomes appropriate knowing if your business idea is worth pursuing or not. There are questions you can answer after generating that “superb” and “exciting” idea to determine if your online business is worth pursuing or not. The answers will help you pursue you execute that idea and run a successful business online.

Questions to help you decide if your business idea is worth pursuing?

1- Is that idea executable? Some ideas are brilliant but considering the economic, physical, financial and mental realities on ground, they are not executable. There are things to consider when it comes to whether an idea can be executed to fruition. You must consider the time commitment, financing needs, up-front costs, market size, skill level, and level of competition, etc. These and other considerations can affect the realization or execution of a business. So, ensure that the idea you are projecting can be executed with ease.

2 – How will this idea impact your lifestyle? New entrepreneurs are often excited about the idea of having to independently of make money online without the much control and supervision of superiors associated with 9-5 jobs. In other words, at the onset, the passion of making money online is often high but will decline when the reality of the stress, sacrifice, hard work, sleepless nights, meeting of project deadlines, etc. sets in. You must pursue an idea that will make you happy and not an idea that will cage you in. Some ideas will put strain on your health, family, time, strength and resources, hence such ideas must be avoided.

3 – What is the perception positioning of your idea? The perception of a brand affects its acceptance. You must ensure you understand what people feels about a particular business concept. You should study top players in the industry to get idea and identify what the society wants and what it avoids. This should be applicable in terms of design, color, logo, etc.  Your idea should align with the religious norms, cultural values, psychological and general perceptions of the target audience. Without taking cognize of this your idea may not see the light of the day.

4 – Can you make your idea standout from the crowd? Most business ideas that become successful are unique and remarkable. You must be unique and stand out if your idea must succeed as well. You must give potential buyers reason(s) to ignore the competition and chose you. Your idea should be tested to determine what people are thinking, why they love it and what makes it attractive. If your brand idea is the generally acceptable then it won’t be difficult to break through the competition. So, ensure you can make your idea stand out by being remarkable as described in the Purple Cow book of Seth Godin.

5 – Is the idea popularly advertised by your competition? If the business idea you want to pursue is not sellable then there is no point trying to make money from it. One of the ways to know is by checking out if competitors are advertising the brand ideas as well. You should research on the competition to know how they are gaining success advertising the idea they have come up with. Any idea that is not generating leads and conversion through advertisement is not worth pursuing.

 The above questions can help you determine if your online business idea is worth pursuing or not. Although there are other questions to consider but the above five questions can start you up to know if you can succeed with that idea or not.

Do you have an online business idea? Is that idea worth pursuing or not?


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Profile photo of Sunday William
I started with a College Degree in Business but I have been an Internet marketer and writer for 10+ years and have written 5,000+ high quality articles in diverse topics. I have also written 20,000+ comments on Kingged.com and 1,000+ blogs and/or websites. I have been working closely with Kingsley, the admin of Kingged.com for 10+ years and have been in the Kingged.com's administrative team since the first day in 2012. I highly recommend Kingged.com's Coaching and Partnership Program.

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80 Responses to “ Is Your “Make Money Online” Business Idea Worth Pursuing?” Leave a reply ›

  • Profile photo of Chery Profile

    Hello Sunday! Well that title of yours just pulled me right on in!

    So is your business idea worth pursuing?

    Heck Yeh!

    I know that you stated that it just may be a pure fantasy and you will end up wasting time.

    But on the other hand what if you don’t go for it and you stay at your 9-5 job?

    Do you think you will be happy?

    Why not go for it? Right?

    I believe, if your believe, then YOU can make it happen.

    Hum did that make sense?

    You did a great job with these questions of yours my friend, They will surely help anyone figure out how to go about pursuing their dream job!

    Great Share!
    Thanks,
    Chery :))
    Chery recently posted…Phone Prospecting To Help Build A Successful Online BusinessMy Profile

  • Profile photo of Janis Searcey-Griffin Profile

    Sunday,

    Well another excellent topic and pointers to get anyone who reads your post thinking about, “what if”.

    What if this works? What if this flops? What if I succeed? What if I fail? I’m getting stressed out just thinking about all the “what if’s”.

    It’s definitely important to get all of your ducks in a row, like doing your research on your niche, but it’s also important to let your creativity work the magic and put a good plan together for success. Chery’s comments here, nailed it.

    Your post definitely caught my attention. Keep up the great posts.

  • Profile photo of Kevin Ross Profile
    11

    Good discussion post.

    I agree with you here, one should first evaluate whether the online business he or she is about to embark on is worth pursuing or not.

    I agree with the 4 questions you asked, such as whether the idea is executable or not. Even if it’s a great idea, if it’s not executable, then it’s a waste of time.

    One area of confusion I think is how hard it can be to be really sure whether an idea will continue to work long term. Some ideas might seem very viable at the time but later on when things change, they are no longer viable.

    For example just few years ago it was okay to have dozens or even hundreds of sites and make money from many of them by easily ranking them top in the search engines and making money from adsense. It was a good idea at the time and worked very well.

    But with the different Google clampdowns and algorithm changes, it’s now very difficult to rank many sites. It’s now considered a bad idea to have many sites.

    But many people made millions from the idea in the past when it was working.

    What do you think about that? How can we be really sure an idea will continue to work into the future when things change so quickly online?

  • Profile photo of Celine Profile

    Hey Sunday,
    I consider your number one tip as the most important for pursuing a worthy business idea.

    This tip which states that “You must consider the time commitment, financing needs, up-front costs, market size, skill level, and level of competition, etc.” should never be ignored.

    There could be so many factors affecting the execution of an idea but just as all businesses,the above factors comes tops!

  • Profile photo of Sarah John Profile

    Hi Sunday,
    We cannot know if an idea is worth pursuing if we don’t try or take action about it. Therefore, if we must find out whether our “marvelous” idea would be worth it or not, there is need to take action Now!

    However, I agree with your suggestions as they will guide the uninformed about what to really checkout to see if that business idea can truly be pursued to make money online.

    The number four question of checking out if the idea can standout from the crowd is a very crucial question that can make all the difference!
    Sarah John recently posted…Ask / Discuss Who Is a Smart Content Marketer To You?My Profile

  • Profile photo of Jasper Oldersom Profile

    Hey Sunday,

    The questions you mentioned all make a lot of sense, and it helps to answer them before you start to pursue your business idea. It will also massively help to position your business in the right way if you do decide to pursue it, because that’s what a lot of business don’t do.

    I like that you mentioned that you should look for the business where there’s advertising. Competitive markets are often good, healthy ones.

    One thing I also want to mention is that once you make a decision, you should be 100% sure about it. When people just put in a little work to “see if it works”, they often end up self-sabotaging themselves even though there’s definitely to opportunity to make it happen!

    – Jasper
    Jasper Oldersom recently posted…Do You Leverage These Swiping Secrets To Make Your Web Copy More Effective?My Profile

    • Profile photo of admin Profile

      [Admin has just bought Jasper Oldersom another $5 glass of cold beer or hot coffee, to say THANKS, for this very helpful response]

      $5 will be sent to your Paypal account by end of the week.

      Thanks a lot, for a very valuable response!

      Kingsley
      admin recently posted…Syndicate Your Posts on Kingged & Enjoy Much More ExposureMy Profile

    • Profile photo of Sunday William Profile

      Hey Jasper,

      Any business idea that is worth pursuing must be one that is actionable. Your mentioning of 100% commitment and execution is invaluable to this discussion. Even so, I have taken your concluding paragraph as words on marble:

      One thing I also want to mention is that once you make a decision, you should be 100% sure about it. When people just put in a little work to “see if it works”, they often end up self-sabotaging themselves even though there’s definitely to opportunity to make it happen!

      Thanks for joining this conversation!

  • Profile photo of EltonCarr Profile

    Great post and comments!

    The one sure way to tell is your business is worth pursuing is asking these questions:

    Is there a market for it? And Is there competition?

    These two questions when answered, Yes! Tells you it’s worth pursuing. When you start something new, that’s when you have to way out the outcomes to determine is it is something worth pursuing.

    Here is a couple more things to consider:

    When the economy is doing great, it’s a good time to go into business. When the economy is doing poor, it’s a good time to go into business. Even during the “Great depression” there were still people going into business and during the “Gold rush” their were people losing money.

    Circumstances do not determine your success in the business world. It’s your ability to adjust in order to make it happen during those circumstances, that will determine your success.

    Remember during the “Gold Rush” businesses made money and lost money. During the “Great Depression” businesses made money and lost money.

    My point and your take away is, if you’re not making money online it’s because you simply haven’t figured it out! The circumstance or your position in life does not determine the outcome of your online business.

    Keep learning and keep striving and you will get there. No doubt!!!

    On this note, enjoy the rest of your day,

    EltonCarr
    EltonCarr recently posted…The Key To Starting Your New Online BusinessMy Profile

  • Profile photo of Christopher Jan Benitez Profile

    These are really basic but essential questions that people need to ask themselves before creating their online business. But I think more emphasis should be put on the target audience.

    Since all businesses profit from sales and purchases, then you need to build your business around you target audience.

    This involves the following:

    * Determine the demographics of your audience (age, gender, income, hobbies, interests, dreams, etc.)
    * Creating a buyer persona using the researched demographics to define the exact person you want to target with your business
    * Extract more information from your target audience by getting them to answer a survey from your site or via email

    By referring to these simple steps (they are more if you do your research), you can create a customer-centric business to increase your conversion and turn in a profit.

    • Profile photo of Sunday William Profile

      Hi Christopher,
      Yes, a viable business idea that is worth pursuing must be around the target audience.

      The target audience is the buyer and every production/services processes should be aimed to satisfy the buyer.

      Therefore, I agree with you that before determining if a business is worth pursuing, the need(s) of the target audience should be first determined!

  • Profile photo of Maketta Profile

    Hello Sunday,

    Those questions are very important to ask before going into business. They should be used as a catapult to help propel you into the right decision to make and not as a discouragement.

    I agree with Cheri you have to have the belief you can do it. No matter what it is if you don’t have the concrete belief it will be hard for you to do anything. This is one of the major reasons why people fail.

    How many times have you read that many successful people were turned down again and again but they did not let the fire of their dreams dim or go out. They kept trying and trying until it worked.

    Sometimes you have to find different ways to get there. Many times it’s not the idea but getting it to the right people who would be your target market. This is what usually makes or breaks a business.

    Thanks for sharing this with us!
    Maketta recently posted…How To Save Money In Your Internet Marketing BusinessMy Profile

    • Profile photo of Sunday William Profile

      Hi Maketta,
      You are right, the belief system of an individual goes a long way to determine the success of a business idea. An individual with a strong belief is more likely to succeed than anyone who ‘doesn’t even know whether is idea is going to succeed or not’.

      A strong belief will bring about the passion that will sustain the drive of pursuing an idea even when all things look bleak!

      More so, I agree with your concluding part: “Sometimes you have to find different ways to get there. Many times it’s not the idea but getting it to the right people who would be your target market. This is what usually makes or breaks a business.”

      Nothing could be truer than this!

  • Profile photo of Don Purdum Profile

    One other thought I would like to contribute is this…

    Many don’t ask themselves what sacrifices they are willing to make.

    Starting any business (online or offline) will come with sacrifices.

    It may mean sacrificing:

    * Hobbies or entertainment
    * Date nights with a spouse or partner
    * Time with family and friends
    * The shiny new object you want

    It may mean living on bare minimums, or even less sometimes.

    If one is married, get on the same page with your spouse and go over worse case scenarios. Make sure you both can live through the experience together.

    This is the untold side of business that few talk about.

    Your business won’t be worth pursuing if it is viable long-term but you are unable or unwilling to sacrifice short-term.
    Don Purdum recently posted…How to Immediately Stop Losing Money on MarketingMy Profile

  • Profile photo of Sunday William Profile

    Hi Don,
    Yes, the sacrifices to be made in

    the course of pursuing some business ideas are not often considered. The reality remains that there are ideas that will greatly demand from our family and lifestyle.

    There is need to be prepared for the sacrifices to be made. Yes, letting a partner or spouse know of the sacrifices to be made will go a long way to bring about the motivation needed to pursue a business idea.

    Considering the sacrifice to be made now is vital to bring about success in the long run!

  • Profile photo of The Dot Com Gal Profile

    Hi Sunday!

    Excellent post, as usual :)

    While I agree with you on the fact that it is important to ask those questions before you decide on whether you want to venture in your business idea or not, I still think that most successful businesses had ideas that were pure fantasy at first.

    So many successful people were made fun of because their ideas were not “normal” as per the society or their peers, but they chose to pursue them because they believed in themselves, like Chery said.

    Now, to answer your question: absolutely yes! I have been trying to make it online for almost 8 years now, and after so many years of “failure”, I have finally cracked it :) If I hadn’t pursued my dream, I would be still stuck in a day job.

    You must believe in yourself and have passion for what you’re doing, and I think you will succeed.
    The Dot Com Gal recently posted…What Would You Do If You Had To Start All Over Again? 5err Enigma Review & InterviewMy Profile

    • Profile photo of Sunday William Profile

      Hi The Dot Com Gal,
      I completely agree with you that having strong believe and strong passion in what you do would bring about easy success.

      Whatever business idea we have, it is really critical to look into the viability. Careful planning is needed and even for those whose idea first appeared to be fantasy, careful implementation of strategies have made it possible to determine whether it is worth pursuing or not.

      Thanks for sharing your personal experience. Its invaluable!

  • Profile photo of Sherman Smith Profile

    Hey Sunday,

    There are many people out there who are making those steps to transition from a 9 to 5 job.

    Sometimes it’ll takes months while others may take many years, but these are great questions for anyone who wants to do this or already in the process.

    When it comes to this, the time you put in and working smart is are keys.

    If you’re a full time employee you want to figure out how much great results you can attract within the smallest time-frame that you have.

    This is where these questions come in.

    You don’t want to waste any time on an idea that’s not going to be profitable, and you want to find ways to be able to attract your perfect audience and consistently resonate with them.

    On top of that, you want to see what other’s within your niche are doing. I really don’t like to use the words “competitors” anymore because in some way, form, or fashion we are collaborating with them whether it be learning from them or doing cross promotion. Especially if you’re blogging.

    Thanks Sunday for sharing these questions! I’m sure many who are making that transition will find them very useful!
    Sherman Smith recently posted…Importance Of Branding Yourself Online When You’re Broke With Little TimeMy Profile

  • Profile photo of Freedom Blogger Profile

    Hey Sunday!

    These are great questions to ask yourself – when cool business ideas come flying through your mind 😀

    I agree with you – the fact that you should be asking questions when business ideas come to you – so you can move forward in the right direction (if your ideas checkout with your questions).

    Sometimes we overlook the fact that we must take our business ideas very seriously and give them a high priority if we really want to make them happen.

    You don’t want to just take blind shots here, right!

    So, it is important that before you jump into a business idea – you give it some deep thinking and analyzing – to see if it is really worth all of the work.

    Now, be careful with Over-Analyzing Everything – which can happen very easily.

    Yes, it is important to ask the right questions, and research and analyze – but to an extend. Because your idea(s) might be great – but you can overthink everything and end up not pursuing them.

    Keep things simple – and learn the right knowledge to move forward when your mind is full of business ideas that are possibly going to make you a lot of money! 😉

    Thanks for sharing this Sunday!

    Cheers!
    Freedom Blogger recently posted…5 Vital SEO Tools Missing From Your Marketing ToolboxMy Profile

  • Profile photo of Barbara George Profile

    Hello Sunday,

    The 5 questions you asked and answered here are very helpful.

    I think many people waste a lot of time on business ideas that they are not passionate about. That can lead to failure.

    I don’t always think of profit but whether an idea resonates with me or not. I am passionate about what I do, and I think passion plays a role too.
    Barbara George recently posted…Lately On InstagramMy Profile

    • Profile photo of Sunday William Profile

      Hey Barbara,
      The place of passion in the pursuit of business idea cannot be ignored.

      With passion, it becomes easy to ride the tide of stress and disappointments that could rise up in the days of the venture.

      Business ideas that are worth pursuing have greater chance of success have passion as a vital fulcrum!
      Sunday William recently posted…Is It Really Necessary To Watch The Competition?My Profile

  • Profile photo of Citadin du Monde Profile

    Hey Sunday!

    Do you know what I am thinking about?

    It seems in modern world there are all niches are taken. Maybe, person has to be a genius to invent something new. But to have some personal mark which allows you to be out of crowd is much more possible.

    Also, you can take something existing and represent it in your own way.

    I suppose if we stall in one idea like “I have to think up new kind of online business”, we will be paused by this.

    If we let our mind be free and just begin to do what we fell is right, then it’ll award us with what we want to get.

  • Profile photo of James Ling Profile

    Hi Sunday,

    Logically, the ideas that are worth pursuing are those that are executable and could lead to the fulfillment of a goal.

    A “make money online” that is not executable would feel like something ephemeral and out of reach.

    In other words, the best ideas for business must be practical and real. They must be accounted for, and they must readily increase value for the idea owners.

  • Profile photo of Amit Sharan Profile

    Indeed, my business idea is worth pursuing because it stands out from what is obtainable from the competition or the crowd.

    It has different creative insights that make it unique.

    This uniqueness is what I crave for and I am sure that every it will propel faster success of the idea!

    • Profile photo of Sunday William Profile

      I guess we have to look out for the ‘uniqueness’ of a business idea when it becomes necessary to find out whether it is worth pursuing or not!

      There is high competition in the business sphere but it is only when an idea from a business supersedes that of competition that it would truly be worth pursuing!

  • Profile photo of steven Profile

    Any idea that is worth pursuing is that which offer immediate and future benefit to the audience.

    However, the basic feature of any real business should be the capacity to earn. This must be clearly stated so it would be motivating to execute.

    Every business idea must be worth executing, it must be able to earn and it must serve clear benefits to the target audience!

  • Profile photo of Winford Moore Profile

    Of course my business idea is worth pursuing as long as there is interest and pecuniary benefits. I dare not follow a business that would not bring any value to me.

    If I am able to earn and profit after the execution the project then it would be always worth pursuing!

    • Profile photo of Sunday William Profile

      So Winford, you are for pecuniary benefits right? I guess many readers would also toe same line.

      However, it must be stated that before pecuniary benefits, there must be the creation and presentation of value.

      People will respond positively to ideas with valuable inputs by offering or rewarding businesses or brands with pecuniary values!

  • Profile photo of Paul Profile

    Hi Sunday,

    The questions you have presented are very crucial in knowing whether it is worth pursuing a business idea or not.

    If you ask me, the question that I readily ask to decide on the following the idea is that first you have listed – is the idea executable?

    There is no point pursuing an idea that is not executable for earning money! The answer to this is a sure determinant of whether I am to make money or not!

    • Profile photo of Sunday William Profile

      Hi Paul,

      Yes, any idea that is worth executing is worth pursuing. I guess an executable idea is that which has clear goal that is specific and attainable.

      There must be steps to achieve all the needed objectives!

      So, if a project can be executed with clarity then it is worth pursuing!

  • Profile photo of Carl Profile

    Every business that offers clear benefits or value is worth pursuing. At least, this should be a sign for those who are confused as to whether an idea is worth it or not!

    The value of an idea to the target audience is what would make the difference. This is because the audience rewards value. The more value the more rewards!

    • Profile photo of Sunday William Profile

      Hey Carl,

      Value is the key when it comes to what the target audience would reward. The more value that is provided the more reward that would be provided.

      Pursuing any business idea that provides clear value or benefits is a worthy thing to do!

      Thanks for leaving your thoughts on this discussion!

  • Profile photo of Black Profile

    Hey Sunday,

    This is a good topic. Any business idea that is worth pursuing must be that which stands out uniquely from that which is already offered in the market place.

    More so, pursuing an idea that has clear perception is relatively important. I am sure many readers would learn something new about pursuing the right business after going through this post!

  • Profile photo of Mark Benny Profile

    For a make money idea to seem viable, there should of course be success stories from those who have ventured in and then others should be willing to learn from it, Whatever is worth doing is surely worth doing well.

    So it is not about whether it is worth pursuing, but whether you are willing to pursue it well, because if other people are pursuing it and making it successfully, then you should not be an exception
    Mark Benny recently posted…Undo Sent Email in Gmail account [HOW TO]My Profile

  • Profile photo of Jerry Chong Profile

    Great discussion, Sunday. The best question for me is:

    Can you make your idea standout from the crowd?

    If you can make your idea stand out from the crowd and is better than what others are doing, it’s worth pursuing.

  • Profile photo of Jerry Moore Profile

    Hi Sunday,

    The 5th point you mentioned is, for me, the most important. If any business idea is not sellable then what’s the point pursuing it.

    To put it in my own words, if I can’t make money from a business idea, then why do it?

  • Profile photo of Mark Profile

    Hi Sunday

    That list is a great starting point to evaluate a business idea. So often an idea seams great on paper or in thought, but when the reality kicks in things are very often so different. I would think the majority of ideas can be put aside after measuring them against the items you mentioned.

    One of the main ones I use to weed out my ideas is asking myself what the real time committment will be needed and how much of the business idea is ‘hands on’.

    Certainly an enthusiastic heart needs to be balanced with a cool head in business.

    Many thanks

    • Profile photo of Sunday William Profile

      Hey Mark,

      I love your concluding sentence ‘Certainly an enthusiastic heart needs to be balanced with a cool head in business.’ There is no doubt that both are needed to select the perfect idea for a business.

      The real time commitment needed to make an idea work is a major factor for making the right choice as well!

  • Profile photo of Gavin McDonald Profile

    Hi Sunday,

    I like the questions you asked to decide if a money making idea is worth pursuing or not.

    The #4 is among the most important:

    Can you make your idea standout from the crowd?

    This is among the most important for me because there are many unsuccessful ideas out there.

    If yours can stand out from the crowd in really solving people’s problems, that can help make it more successful than others.

    I want to also add one more:

    Are you passionate about your idea?

    Desiring money is important in any business venture but being passionate is equally important. If you are not passionate, you might not pull out all the stops necessary to succeed with your business idea.

    Great discussion post, as always, Sunday. Thanks for starting it.

  • Profile photo of John A Karnish Profile

    Hi Sunday,

    This was a great article. Often I come up with crazy ideas that seem like winners but they really do need to be thought through.

    I have manically started many ideas with lots of enthusiasm because they weren’t well thought out.

    You give some great questions to consider on whether you have an idea worth pursuing or whether it is just a crazy idea.

    This time around at trying to make some extra money, I think I have things better thought out and am much more realistic with the amount of work I have to put in and the time frame.

    Take care my friend. Have an awesome week!

    John

  • Profile photo of Tom Kimp Profile

    Hello Sunday,

    I think a lot of people get involved in an online marketing idea, without researching it well enough to make it truly work. Sometimes I feel people have too much of a defeatist outlook too. Like if you’re going to just put one foot in, then you’re likely going to fail no matter how great of an idea or opportunity you have.

    There’s always going to be some trial and error in what you do. But I think a person should definitely pursue an online business idea.

    I rather have freedom away from a 9 to 5 job. However, one just should never go into online marketing, or an online business; thinking they can be lazy and not have to truly work. To be successful at anything requires a lot of work.

    Thanks

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