How To Tell An Idea is Not Startup Material

Once you feel you have found a problem which is worth solving, then you need to take it through an evaluation process to see if it is feasible (and profitable) as a business.

A lot of people run into problems in business because they have an idea and launch without conducting this kind of analysis. That’s why I am an evangelist for doing an Opportunity Evaluation – because I feel it is absolutely critical to a successful business.

A lot of problems can be avoided by doing this right at the beginning – so don’t miss this step!

BY SUSAN JONES

Unless your idea is the solution to a widespread problem, it is not a good idea to pursue it. Dream projects are one thing and practical startups are another. If you want your investment to pay off, you need to target a problem that the masses face.

It is very important in the early stages to define your target market - the consumers or customers that your service will be aimed at. If you can't define that, your idea is most likely going to fail.