These are the qualifications of a good business my mentor (who has accumulated more than P20 million in the past 10 years):
1. Huge and expanding market/industry --> Henry Sy thinks of things that people are not thinking of
2. Unique Selling Point (USP)/Customer Aquisition
3. Strong Capital Partner --> company stability
--> distribution
4. Consumable products that create residual sales
5. Support System -> training/education (Hamburger University of McDonald's)
6. Proven business plan --> Track Record/"Results Never Lie"
You see, people, while some ideas are generally good, they are, for entrepreneurs who think big, not worth the effort especially if they know that a better business or a better product is out there. They seek advice from people who have success already in their chosen fields, not from failures or from people who haven't even tried it yet.
My advice for the people here is for you to think big, think expansively. Play the business game not to lose, but to win.
