Business Opportunities Weblog

March 1, 2005 by Dane Carlson | 1 Comment

SmartMoney:

So how do you know if your idea will fly? Research, research, research. Here are a few tips on how to get started.

If you’ve got a lousy idea on your hands, who’s more likely to tell it to you straight than your family? (Siblings in particular can be a reliable source for brutally honest criticism.) Start by bouncing your concept off those closest to you, including trusted friends. When talking to anyone — be it Cousin Al or your best friend from childhood — be sure to ask if he or she knows anyone who can help you, either by offering advice or providing start-up funding.

Next, talk to people in the industry you’re targeting. Be careful, of course, but don’t be paralyzed with fears that these people will steal your idea, says Peri Pakroo, author of “The Small Business Start-Up Kit.” Most of the time your business idea isn’t as novel as you think it is, and other entrepreneurs — particularly those in businesses similar to the one you’d like to start — can offer valuable information about the buying habits and concerns of customers in your area.

In Ideas, Planning, Posts | 1 Comment