Are you carrying in your head a million dollar startup idea? or is it complete bust with no actual point for return?
This is the question that stops numerous future entrepreneurs before they even take the risk and dispatch their potential business venture. Luckily, it is possible to make a more educated guess by answering the following 10 questions: The questions to ask yourself are:
1. What kind of problem are you solving?
2. Have others attempted before to solve this problem, whether they were successful or failed, if failed then what were the reasons?
3. Can you define in simple words, what you are offering?
4. Who are your potential customers?
5. Who are your competitors?
6. What is the size of the market for which you are building this product or offering services?
7. Have you shared your idea with your potential customers for feedback?
8. Have you given a thought on minimum viable product?
9. Do you need partners or other stake holders to solve this problem or can you do it on your own?
10. Do you need investment? If so how much and how can investors in your idea make a profit?
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