3 tests to help you decide whether your million-dollar business idea is worth pursuing

Entrepreneurship is how many "first-generation rich" millionaires got their wealth, according to Jamie Masters, author of "The Eventual Millionaire: How Anyone Can Be an Entrepreneur and Successfully Grow Their Startup."

Masters, who wrote her book under the name Jamie Tardy, studied and interviewed over 100 millionaires to get insights on how to change her own life. She was 24 years old, over $70,000 in debt, and in a job she hated.

She learned that many millionaires did not want to be committed to working for someone else. And it wasn't just about the money - it was about the lifestyle as a whole. So instead, they went on to be their own boss.

But millionaires didn't just come up with one idea or one product they were passionate about to get rich. They came up with lists of things they knew and had skills for and knew there was a need for.

"A good business is something that solves a problem for someone that needs it solved. The value to the end customer is enough that they want to pay for it," writes Masters.

So how do you know if you have an idea that could potentially earn you a fortune? Based on her research, here are the three tests Masters suggests to decide which of your ideas could be the one worth pursuing. By putting your idea through these three stages of evaluation, she explains, you can figure out which "fits best for your life, your wallet, and the market."