November 12, 2012, 5:00 am

The Real Test: 3 Killer Questions To Validate Your Business Idea

by: The Financial Blogger    Category: Alternative Income,Business
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Today’s post is pretty short as I want you to really concentrate on these questions. If you have a business idea in mind or you are looking to a start-up at the moment, this post is crucial.

 

#1 What is Your Business Idea/Product/Service?

(Take a moment to answer)

 

#2 Do You Have Competition Already? Are There Other People Doing What You Want to Do?

(Take a moment to answer)

 

#3 You Thought of Your Idea/Product/Service, But Did You Think of How You Will Make Money From It? What is Your Business Process?

(Take a moment to answer)

 

 

 

RESULTS

 

If you answered question #1 by describing your idea with features and characteristics, your idea is dead on arrival.

 

If you answered “no” to question #2, you’ve killed your idea.

 

If you answered “no” to question #3, your idea is toast.

 

I can guarantee you 2 things this morning before you finish your coffee:

 

#1 These are killer questions

#2  And this post is short.

 

I’ll come back tomorrow with the explanation as to why your business idea didn’t survive these 3 questions and why you will do everything but make money if you don’t go back and answer properly.

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Comments

In today’s markets its almost guaranteed that there is someone who has thought of your idea or a similar idea to yours, making it inevitable for there to be competition out there. These questions reminded me of one of my favorite shows Shark Tank- I’m always interested in hearing the pitches of entrepreneurs and how stupid the investors make them looks, its quite entertaining.

I have an idea in my head over 3 years. There is no real competition, still I believe it’s something what would be successful.

It’s a system which works already dozens years, but set up the way that majority of regular people doesn’t like it. It would solve many people problems and risks.

My problem is that I would need quite a bit of money for lawyers to make the things ok with all legislation requirements.

Difficult questions to answer. You need a hell lot of planning to start a business. My business idea is to serve the society and earning money from ads.