How to Test Your Business Idea
Save yourself thousands of dollars by first testing and validating your business idea before fully committing to it. Entrepreneurs are eager to push their business ideas as quickly as possible, however conducting the proper short-term due diligence might just be the best insurance policy that you ever take on.
Scoring Your Business Idea
Entrepreneurs by nature are creative tinkerers whose minds often move much faster than their hands. They often come across several business ideas that they think would be successful, but often struggle on trying to settle on the one business that they can commit themselves too. Using a scorecard to help you assess your ideas before committing to one can be a simple tool to help you find 'the one'.
Why Your Mother's Opinion of Your Business is Valueless
Ever since you first brought home that handmade Mother's Day card from kindergarten your mother has cooed like an ecstatic pigeon about everything you've ever made or created. Is she cooing about your business now? More importantly, should you trust her judgment?
Things to Do Before You Start Your Start-Up
Many businesses and products can be validated before you sink a dime into product development and start-up costs. Validating your proposed products with your target customers is an effective means to mitigate the risk with your start-up and give you greater confidence as you launch your business.
Reasons for New Product Success or Failure
We all know of products that have been launched, some amidst much festivity, but have since gone on to become terrible market flops. Similarly, there are new products whose launches have been equally festive or quite low-key but whose market success has been nothing less of stellar. Why do new products fail or succeed and what factors are responsible for this?