The importance of business idea

Most of the experts believe that the business idea is the most crucial factor for the success of any venture. Yes, it is true that it all starts from a great innovative idea but the business idea is not everything.

There is another group of experts who believe that idea is not the most important variable for success. The timing is what makes all the difference.

A business idea executed at the right time will outperform all other businesses. The timing is really important. Let me share an example.

Vermilion is a supplement manufacturing company in Singapore that uses Traditional Chinese Medicine approach to create supplements. It was a well-executed business idea that was launched when there was no other similar business in the country. It kicked off and did exceptionally well.

This is just one example. There are hundreds of others businesses that do very well just because they were launched at the right time.

If you want to create a successful startup, there is one thing that you have to do – wait for the best time to launch it. There is, unfortunately, no easy formula to find the best time to launch a business. You have to do research, competitor analysis, and must spend a lot of resources in order to find the best time to launch the business.