If you’re reading this, chances are you want to start a business. You can have all the ideas in the world but before you start any business, make sure you have an air-tight business plan. If you are like me & you have loads of business ideas pinging around every day & need a quick way to validate them, here are 5 simple questions that you must be able to say ‘YES’ to. If the answers aren’t a firm yes, you are probably wasting your time. Don’t take years to figure this out that your business isn’t viable. Do it in 60 seconds:
The 5 Yes Check…
Question 1: Is there competition in my space?
Question 2: Are my competitors making money?
Question 3: Can I do my idea differently and/or better?
Question 4: Am I solving a huge problem?
Question 5: Do I have enough resources to start now?
P.S. Here are a few ways to stand out.
- Lower prices
- Higher quality
- Wider variety
- Better Customer Service
If you enjoyed this post or can think of a few more questions to add to the 5… drop me a line on firstname.lastname@example.org