Holicent
VIP Contributor
Before you start a product based business, it's important to evaluate the idea to ensure that it's worth pursuing. That way, you won't waste time and money on an idea that isn't going anywhere.
These are some questions to ask yourself:
1. Is there enough demand for the product or service? Consumers should be willing to pay for your product or service. You also need to make sure there is enough demand for what you're offering — not just from one customer but from a large group of people or businesses.
2. Does my product/service meet a need? You should be able to identify a real problem or need that your solution can address better than existing products or services. Your customers should be willing to buy from you because they see your solution as better than what's currently available on the market
3. Can I get the funding needed? If you need investors or partners, make sure they're willing to commit their money and resources before moving forward with your idea.
These are some questions to ask yourself:
1. Is there enough demand for the product or service? Consumers should be willing to pay for your product or service. You also need to make sure there is enough demand for what you're offering — not just from one customer but from a large group of people or businesses.
2. Does my product/service meet a need? You should be able to identify a real problem or need that your solution can address better than existing products or services. Your customers should be willing to buy from you because they see your solution as better than what's currently available on the market
3. Can I get the funding needed? If you need investors or partners, make sure they're willing to commit their money and resources before moving forward with your idea.