4 Questions for Evaluating New Business Ideas

  1. Is the idea truly disruptive? Consider: Is the job BIG, as well as unsatisfied? Can we find a compelling foothold customer and solution to make progress? Can we start small and earn early profits? Can we avoid competition from large incumbents?
  2. Can we find a way to implement with low fixed costs (to allow for iteration) and to pilot the concepts cheaply?
  3. Are there long-term

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Rob Adams’ Questions

  • What is your target market?
  • How big is it?
  • Who buys your product?
  • Why do they need it?
  • Who pays for it?
  • Who uses it?
  • How do the users fix the business problem you’re addressing today?
  • How much are they willing to pay?
  • Why would they buy from you?
  • What business problems are more important to them than this one?

Source:
Taking the Trouble to Research Your Market
by Rob Adams
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