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How I Started a Side Business in 1 Month
One of the toughest challenges that entrepreneurs face, is deciding whether your idea is worth selling.
You don’t want to spend all this time and money on an idea to find out that no one actually wants or needs this product.
To make sure that this doesn’t happen to you, I’ll be going over the steps that I use to validate my ideas, forecast potential profits, and test whether consumers will even buy your product or service.
Before we get started, it’s important to remember that validating our ideas is an important step to decide whether our ideas will make us money in the end.
Step 1: Finding a Niche and Target Audience
When considering an idea or product to start, you have to consider if there is a problem that you can help solve for your target audience.
Figure out if there is enough reasonable concern that your customers would be willing to invest to find a solution.
Our ideas may make sense to us, but they may not to someone else.
For example, Google first announced Google Glass back in 2013 which was eyeglass-shaped wearable technology originally designed to always have “technology work for you.”