Part II: Is My Idea Marketable

In the first part of the series we talked about getting ideas for you to start your own business. Now that you have a general idea of what direction you want to do, now we will see how marketable the idea is and where you should go with it. We are keeping this very basic for those going from a blank sheet.

Here is a series of questions to ask to start developing your business plan and to insure that your idea is something to run with.

  1. Who would buy your product or service?
  2. How big is the market for your product or service?
  3. Who is your competition?
  4. How will you set yourself apart from your competition?
  5. What is your niche?

Once you answer these basic questions you will have a better idea of were to go with idea for a product of service.

Be sure that you are very detailed when answering your questions. We will go through each of these questions in the coming weeks.





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