An angel investor who has backed nearly 500 companies reveals the 2 criteria your business idea must meet to turn into a billion-dollar startup
Coming up with an innovative business idea that has billion-dollar potential is extremely challenging.
Angel investor Charlie Songhurst says winning business ideas share two key traits: they solve someone's problems, and they avoid ideas that are overly simple or obviously exciting.
Coming up with an innovative business idea can be hard enough, and finding one with billion-dollar potential is even harder.
"It's very hard to extract economic gains to get revenue without solving someone's problem," Songhurst said.
To get big, be boringWhile there's certainly no shortage of problems to solve, some naturally garner more attention than others.
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