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Here are 3 golden tips for entrepreneur’s by SUCCESS magazine.

1. Look for a need and fill it : Its important to understand the market today and react accordingly. People will pay you to solve a problem or fill a need they have.

2. Look for ideas that can be validated with little time and effort. You dont want to spent a lot of effort or capital on unproven ideas in this economy. Creating a new consumer electronics gadget, for example, would be a time-consuming, costly undertaking. Simpler is ofter better right now.

3. Do your market research. Most entrepreneurs are optimistic, so it’s important to make sure other people agree the idea is good. You need not spent a log of money on market research - even if you buy a few pizzas and run the idea by a group of friends for an hour.

By, Steven D. Strauss ,  Success Magazine.