Business Ideas

Before proceeding to develop business ideas, you need to determine their strength and capabilities. Below is a list of criteria to assist in the evaluation of the ideas that are particularly well suited for you and your goals. Ask yourself the following questions when evaluating ideas for your business or product: 1. How to create a market for your product or service? Submit a new product without testing the market, how to jump off a cliff blindfolded. First What you risk to invest resources in your business, even $ 10, you must get an objective picture of your potential market. Although the exact reaction of customers to identify new product is difficult.

You should try to get much information as possible about the market. Rule: to find and fill it. As far as possible. 2.Do not whether the product is devoid of market attractiveness? Beware of fads and passing trends, as these markets quickly change. You also need to determine whether your product or service to be used at the national level, or is it limited to your geographic area. With the increasing globalization of business and its integration into the Internet, you have to look for customers in the international market and an analysis of foreign competition. 3.

How unique your product? The goal is to be able to differentiate your product from your competitors. You have to show why your products and services are unique, innovative, or much greater than, your competitors. If you seriously intend to capture a significant share of the market, your potential customers need to find a more useful from your product. 4. How useful your products? Many new ideas and products are successful because their creators have identified an unmet need in the market. Determine at the beginning, how and where your product or service can be used to determine the frequency of use of products. 5. How many of your competitors? Remember, never 'situation is no competition. " Your product will always have competitors. If you offer innovative product, stay away from the market with an extremely small number of competitors. Lack of competition may mean that your business idea is not profitable to begin with, or that your idea is so novel and unique, that no one thought about it yet. 6. Your price for a product competitive? Give the correct price for the product or service is one of the most important elements in business models. Ideally, the cost should meet three requirements: the price should match the competition, the price must be attractive to potential customers, and the price is to make a profit for you. 7. What is the level of complexity in the creation or sale of products? You must take into account all economic factors in marketing products, such as time, capital investment, cost of transport, staff, availability of cheap but effective advertising. It is very important that you can easily could control it. 8. What is your growth opportunities? Check! Can you survive your product in a year, two, three? How can you improve it? Will the product or service to bring you profit in the progression? 10. Is product safe? Safety in the use of the product, is an important factor for many consumers. Educate and advise your clients on how best to use the product.