How can you test the viability of a Business Idea without vulnerability?

Ask yourself:

1: is the Market big enough to make money?

2: has anyone penetrated the market? If yes, is there still enough space for you to make profit along with others?

3: is your product/service good? Do people want it? Can you get the products to the people at the price they're willing to buy?

If your answer is positive to all this questions, then it's time to get feedback from others - ask others the same questions, find out their answer and evaluate.

Ask any other Relevant question. Remember what matters is information, the more info you have the better and more sensible decisions you will come up with. No wonder they say: Who owns information, reigns the world.

1. Urgency

What is the true urgency of your potential customers receive your product or service? For example, renting an old movie generates no urgency, but a vaccine for Influenza A can be very urgent.

2. Market Size

How many people are actively seeking your product or service? The mobile phone market is huge, while the market for a training course is much smaller.

3. Potential price

What is the highest price you would pay a potential customer for your product or service? It is not the same selling lollipops for ten cents Private Jets for several million euros.

4. Customer acquisition cost

How much time, money and effort you will get new customers? A gas station on the edge of a busy highway will not have to do much to get new customers, while a company that develops engineering projects such as tunnels, bridges, etc., must devote much effort to get new projects.

5. Cost of adding value

How much it will cost you time and money to create and deliver value to your product or service? The download of an ebook on the Internet that the making of a dress or tailored suit.

6. Exclusive offer

How does your bid is unique when compared to the rest of your competition? How easy or difficult is that your competitors will copy your differentiator? There are many salons in the world, but very few companies that offer trips into space.

7. Speed ​​to put on the market

How soon will have available to sell your product? You can put on the market a new type of pen in a very short time, while developing a new mobile phone operating system can take years of development.

8. Initial Investment

How much money you will invest before you have a finished product to sell? Start a blog cost you very little while to develop the prototype of a new electric car you will be a great investment.

9. Potential product extension

How much additional offerings can develop after your main menu? If you create a razor blade, then you offer spare blades, shaving cream, aftershave, etc, whereas if you offer a frisbees, it is more difficult to develop complementary offerings.

10. Sustainability of supply

Once you have created the initial offer to you When efforts to continue selling? Consulting is something that is ongoing work to keep selling, but in a book is created once and sold over and over again without the need to work again.