I found this video by Problemio on Youtube and was amazed by the awesome practical and easy to do suggestions to find out if your business idea has a good chance of being successful – this is something that every entrepreneur must do before launching their startup business, otherwise you are very likely to lose a lot of money very quickly. Doing your research could also give you valuable ideas to improve your products and services to raise your chances of succeeding.

Simple Strategies to Test your BIG Startup Idea

Many entrepreneurs start off with a business idea. Over time they become convinced that their idea is the best thing since sliced bread with the potential to change the world.

Given statistics that show eighty per cent of startups go out of business in the first five years, while of those who survive that long, just twenty per cent go on to celebrate the tenth anniversary, it is vital that entrepreneurs proof-test their business idea at the onset.

Without effective analysis, entrepreneurs risk spending money, time and effort on a nature that has a limited chance of succeeding. As a minimum, you want to establish realistic expectations of what you can achieve.

A thorough analysis that validates your business startup idea should give you the perfect platform to move on to the next stages in the startup process: Developing a detailed business plan, putting sourcing funding, staffing, marketing etc.

This video shows you simple strategies to analyse your business start-up idea and prove to yourself that your startup idea is right for the market.

 

About the video

In this video, I explain how to determine whether a business or startup idea is good, or whether a business idea is bad.

There are a few very clear ways to determine whether a business or startup idea is bad. But to determine whether a business idea is good is quite difficult because first, you never know how things might work out, and second, many factors have to go into a business idea to make that business idea a good one.

Nevertheless, there are a number of questions to ask yourself about your business idea. You can consider whether your startup idea is something that you as a founder can pull off. Does it tackle a big market that is also a growing market? A business idea is good if it is something you can personally do, is in a good market, and solves a real need that people or companies will pay for.

If you need to determine if a business or start-up idea is good, get help with my business idea apps: http://www.problemio.com

Here is my book on business ideas which can further help you determine whether your business idea is good, and refine your business ideas:

http://www.amazon.com/Business-Start-…

If you need extra help to determine whether your business idea is a good one, you can hire me as a business coach. Here is a page explaining how I can help you plan and create a strategy for your business idea.
http://glowingstart.com/hire-business…

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