Research the idea; determine FACTS on how big an idea this is. Who will want it? What are they currently using you will replace? WHY will they make the change? How much will they be willing to pay? How many people will have interest? Will they buy it again & again or you will need to market again and again to get new customers?
Look to the competition. Who are they? What do they offer; how will you be unique?
AND what are your costs? What do you need to buy? Rent? Employees? Marketing costs?
Work on all those questions and many more until you have FACTS to back up your idea then determine next steps. Many of your answers will be based on assumptions but use quantified statistics to base those assumptions.
AND so many other questions. Pull all of this together in a business plan. A plan will step by step guide you though all the areas you need to know. See www.bplans.com for sample plans. And consider contacting your local SCORE Office for help. See www.score.org and use the Find SCORE option for free face to face counseling.
Alice, SCORE Pittsburgh
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