3 tips for executing your business idea
So you have an idea that you think has the potential to be a very successful app. Great!!! The question you should ask yourself is will there be a market for my app idea?
I see this happen all the time. Individuals tell us about their mobile app idea or a web-based business, but have yet to determine if there is a place for it in the marketplace. Getting friends and family members to like your idea is not good enough – having actual orders is way better. Having actual orders for your products is way better solution.
Here are three key steps you can follow in order to make sure there is a market for your business idea;
- Before implementing anything, spend time on research. Investigate like an FBI agent and find out if there is a market to support your product.
- Test your ideas. Many people make the mistake of keeping their idea a total secret because they’re afraid someone might steal it. I advise the opposite. Share your ideas. Wisely, of course. There are many ways to share your idea without giving it all away.
- Measure demand. Find out what your competitors are selling. Are they selling the same product? Or something similar? Analyze their social media accounts and what their followers are saying. Reading reviews also a great way of measuring demand.
We often use the lean startup methodology process to validate ideas that feel are worth pursuing. This allows us to be more innovative, save time and be more successful in launching ideas.
Make sure you’re not stuck idea without verifying if there is a market for it.