So you have a business concept...
But don’t run off and start a business just yet! Here’s what you need to do.
Validate the problem
You need to find out if this problem is a real one or one that’s common enough to build a business upon. In other words, you need to know there’s a market for your service. This means talking to anyone and everyone about it and getting a feel of how common this problem is. TIP! Don’t be scared of people stealing your idea. An idea is only as great as the passion, dedication and vision that an individual has!
Listen and take notes
Remember, you’re not here to defend or sell your idea – you’re trying to get feedback so actively listen to what people are saying. You can also set up surveys (which can be done easily via websites like surveymonkey.com), speak to strangers… the wider you cast your net, the more insights you’ll get. Tip! Try to weave your business idea into conversations at social settings without exposing your agenda. That way, people have their guard down and their comments won’t be moderated.
Present your solution
If the feedback you’re getting shows there’s a real unmet need in the market, present to people how you’re thinking of solving that problem. Talk about the service you’ll provide. If people start saying, “I’d totally buy it!”, you know you’re on the right track. Tip! Run ads for your service on free listings websites to gauge interest. Invest in Facebook ads to tell people about the service you’re launching. Monitor the clicks.