HOW DO I CHOOSE AN IDEA THAT WORKS?
By now you probably have a number of ideas which you like and you’re wondering which one you should use for your business. Here is a checklist that you can use to decide whether your idea will work, or not. Does my idea work?
Answer the following questions:
• Who are my clients?
• Where will I find clients?
• Why will people buy my product or want my service?
• How will I get the product/service out to the clients?
• How is my product/service better than other people’s?
• Can other people just copy my product, or do I have something that they don’t have, or can’t just get?
• Is the idea unique? In other words, is there anything else out there like my idea?
• Can my product/service make money? How much money do I need to make or produce it? Is it practically possible?
• Is there a need for my product or service? Will people be interested in it?
• Is my idea practical? In other words, is it possible to carry out?
• Do I have enough time to do it?
• Do I like the idea?
• Will I enjoy doing it?
• Does it suit my personality and talents?
• Do I have enough money to start? If not, is it possible to make money, in another way, until I have enough money for my real business?
• Where will my business be based?