You've got an idea for launching a small business. That spark of inner genius in itself is a feat worth celebrating. But that little lightbulb floating above your head – bright as it may be – can dim quickly if your idea isn't an all-around winner. Of course, you must think your idea is good or else you wouldn't consider moving forth, but to really assess its true value and profitability, you'll need to have a solid "yes" as your answer to the four imperative questions below. You've dreamt it up, now make it a reality!

Are You All In?

First and foremost, are you busting at the seams with passion for your project? If you have any doubts, how will you convince anyone else that your business is worth their while? Additionally, you're going to need to go all in to get this thing off the ground and running strong. If your business idea is inspiring, motivating, and you cannot imagine doing anything more, you're off on the right foot.

Business News Daily quotes Melissa Bradley, executive-in-residence and director of entrepreneurship and innovation at the Kogod School of Business at American University. She notes, "Since starting a business requires an inordinate amount of time, energy and patience, ideally, the idea will be one that you are passionate about and have skills/experience in."

Not to mention, you'll likely have to put forth a heap of funds into your endeavor. Without a rip roaring inner drive, making the money back (and then some) won't happen easily. Your whole heart and soul must thrive off this idea in order for the world to take notice too.

Does It Fill a Void?

Why exactly do you want to pursue this business? If your answer is that you see something's missing out there, or you've got a way to improve upon what your competition is putting forth, then you're onto something smart. You need to know your goal and stand by it.

B Plans suggests asking yourself the following to assess if your idea is smart: "What's your mission? All new businesses need a sense of purpose. Are you trying to improve people's lives in some way? What are the core differentiators of your business that set you apart from the next person trying to build a similar business?"

If your idea is already a "been there, done that" one, you may need to rethink your strategy. Why would someone buy or use your (at this time, unknown) product or service, when there's already a tried, true, and trusted one out there? If your plan isn't fresh or unique in some way, spending time developing it further could lose you money and take away valuable time and energy that you could put towards a new and more meaningful (and profitable) pursuit.

Do People Want It?

Talk up your idea with friends and family and people in the field who are knowledgable or have been successful. Even run your business idea past strangers – you're going to want as many people as possible to buy or use your product or service, right? Find out if people would actually pay for what you're planning to offer. Because even if they like your idea, it doesn't mean they would spend their money on it. Someone may like the idea of getting a Ferrari, but it doesn't mean they're headed to the dealer any time soon.

Business News Daily quoted Wil Schroter, co-founder and CEO of Fundable. He said, "An idea is just an idea until you have a paying customer attached to it. Anyone can discredit a simple idea, but no one can discredit paying customers."

B Plans suggests running test ads with Google Adwords or on Facebook to see if there's any positive response (or any at all for that matter). Revamp and tweak your ideas with the feedback you receive. Any input you get can be put to good use for you to rethink your strategy, spend, and style. It's all about the basic business principal of supply and demand. Make sure whatever you're dreaming up is going to be sought after with enough power to make your company money.

Do You Have a Solid Marketing Plan?

Just because you build it, it doesn't mean they're going to come. In order to fully get that product or service to the right clients and customers, you'll need to have a unique selling point that's scalable to the point you can and want to take it. Clearly defined marketing plans and goals must be laid out before you introduce your product. First impressions aren't the only ones you get, but they will set the reputation for your brand.

Inc. suggests getting advice from a marketing professional from the get-go. "Doing this will reduce your business risk as well as overhead expenses, while providing you with details about how much your business demands in terms of promotion and advertising. New businesses that ignore the value of marketing and think this is something that can be worked out later are usually seen rectifying errors committed at the outset."

Just because you are a savvy entrepreneur doesn't mean you're a marketing whiz as well, so let the experts guide you. Once you've grown your company, you can hire a marketing team to help the business soar year after year with marketing campaigns, social media presence, and other advertising strategies.

With these 4 items in mind, are you convinced your idea's a good one? If not, use these questions to help you get that plan solid and ready for takeoff. Good luck!

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I thought I had a pretty good handle on my finances out of school. I worked several jobs while attending university and had little to no problem managing my income. However, once I graduated, I realized how much more complicated personal accounting could really be.

There were so many variables I needed to keep track of. Biweekly bills, monthly charges, and general necessities amounted to a heap of confusing numbers that were often impossible to decipher. The funniest part was that I was actually trying to do this by hand (I don't know what I was trying to prove to myself, either).

After messing up for the 17th time, I decided to give Microsoft Excel a shot. I used Excel a bit in school and I knew all the big-wig finance people used it, so what could I possibly have to lose? The answer is about six hours of my precious time. Excel isn't much of an improvement over handwriting and it's still dependent on the user to manually input all of the information. It's like doing everything by hand with the slightest help, meaning that it still required a tremendous amount of time and concentration. Well that was all for nothing, I guess.

It's sort of funny. I was certain that I could manage my personal finances with ease, when it's practically a full-time job. I was already stressed out enough with my first job and I knew I didn't have enough time to give my finances the attention it deserved.

That's why I decided to try out a budgeting app. My best friend told me that he uses an app called Truebill to manage his finances. "What does it even mean to manage your finances?" I asked him. He told me that Truebill was the personal financial assistant I wished I could have. It could aggregate all of my account information into one place and give me specific insights and actions.

I loved the idea of having full control over my finances, especially during a time of financial uncertainty, and I realized that Truebill would be the easiest way to accomplish this. The user interface is incredibly simple and intuitive, so it doesn't even feel like a finance app! Truebill offers a multitude of features, with their most popular being the ability to cancel subscriptions with the press of a button.

Okay, I had no idea how many subscriptions I was still subscribed to. In fact, I wasn't even using a quarter of the subscription services I was signed up for. Subscription boxes, streaming services, my old gym, and even an old subscription to my favorite magazine--it was all there and I was livid. How could I let myself waste all of this money and how did I never catch this? Thank goodness for Truebill.

Truebill also offers bill negotiations. There is a 40% fee based on how much you save and Truebill even claims that there is an 85% chance that they'll be able to lower your bill once a negotiation is requested. Why wouldn't I take them up on this? There was zero risk and I would only have to pay once my bill was lowered (which means that I would be saving money regardless).

More standard features of Truebill include the ability to generate a credit report on-demand and even request a pay advance. I only used the pay advance feature once when I wanted to buy a gift for my mom, but didn't have enough cash in hand and Truebill automatically reimbursed itself when I got my next paycheck.

The credit report is another fantastic feature and practically taught me what good credit meant. Truebill's credit report basically shows you which financial decisions have the most significant impact on your credit score and ways that you can improve your credit month-over-month. I've never had such control over my credit and it feels good.

I'll be the first to admit that I was extremely naive coming out of school. I figured that as long as I was attentive, I could manage my finances with ease. We manage money to some extent throughout our entire lives, but once you're thrown out on your own, it's a completely different story. With Truebill, I've finally been able to take control over my finances and stay on top of all of my responsibilities.

Update: Our friends at Truebill are extending a special offer to our readers! Follow this link to sign-up for Truebill.

My buddies and I always try to make it out to a game, but we never really care which one we end up at. Obviously we have our favorite sports and teams, but it was rarely about what game we went to or who we saw playing. It was about watching the game live.

In the early months of lockdown, all we had was Korean baseball, and trust me, we loved it. The only issue was, none of us had any idea what the commentators were saying. Even then, a few of my friends weren't huge fans of baseball. They were into sports like football and basketball, ones that moved at a quicker pace with less down-time in between plays.

We decided to see if there were any other events going down and came across horse racing. Yes, horse racing. It was perfect--short, fast-paced, and most importantly, an opportunity for betting.

I had never really considered watching a horse race any time other than the Belmont Stakes, but the prospects of the sport seemed exhilarating. Even better, with horse racing we knew we could still recreate the atmosphere of a race track. Salty snacks? Check. Stale beer? Check. A simple and easy way to bet? Check.

One quick Google search later, we came across TVG, powered by FanDuel. It's an online betting platform that takes you right to the heart of the action. We were a little apprehensive about using a mobile app to place our bets, but TVG's ability to bet on live horse races from all over the world was too good to pass up.

Here are 5 reasons why we are obsessed with horse racing thanks to TVG:

1. Betting has never been easier

Use your phone or computer to watch and bet on live horse races in real-time. TVG offers a bunch of features to make betting even simpler--live odds and handicapping tips leverage recent learnings to help you make your best bet. Not to mention, TVG's exclusive race content and wagering guide offers an under-the-hood look into the strategy behind horse race betting.

2. The biggest selection of horse races out there

If you're looking to drop a little dough on a horse race, chances are your best option is your local race track. But watching the same few horses races over and over again isn't the most exciting thing. With TVG you have access to over 150 tracks worldwide with races happening consistently throughout the day.

3. Get a generous sign-up offer when you place your first bet

Once you register your account, you will be eligible for a $200 risk-free bet. All you have to do is place your first bet and you're covered. If you happen to lose, TVG will insure you for up to $200 as a sort of wagering credit. I may have been a little trigger happy when placing my first bet, so having this insurance was a great perk. There are also a bunch of promotional offers available year-round.

4. Making deposits and cashing out at the touch of button

With a ton of payment options such as PayPal, BetCash, debit/credit, wire transfers, and other third-party services, making a deposit is a breeze. But what about the payout? Depending on your deposit method, your withdrawal will be available in a few days. No more waiting in-line to collect your winnings!

5. Watching live races with your friends while betting is exhilarating

Even when we were watching Korean baseball, Zoom calls with my friends were a little dull.

With TVG, we haven't had this sort of fun in months! Every weekend we'll turn on a race and throw our bets in. After a few races, and quite a few drinks, we'll tally up our winnings to see who won the most! Sometimes it's not even about making money, but just having a good time.

TVG is the perfect way to add a little excitement to an otherwise mundane afternoon. It introduced me to the world of horse racing, a sport I never would have considered otherwise.

The races just keep ramping up and thanks to TVG, I can always get in on the fun.

UPDATE: The biggest derby in horse racing is THIS WEEKEND. Get in on the action with your $200 risk-free bet!

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