Posted under Entrepreneurship
from 1471 days ago

You have your idea sketched out and finished all of your initial analyses. You’re getting excited about having a potential money-making idea, but now it’s time to test that theory: How many other people on the planet think that you have a good idea? How many will pay for that idea?

The value proposition has one flaw. It predicts the acceptance of your product or service by the average consumer within a climate of similar products or services. It doesn’t tell you how many people will accept or desire it. Market research and testing are two ways to get a sense of those numbers. Here’re some tips and tricks to researching your idea before moving on to the next step.

Mainstream versus Niche

If your product is a new take on a common idea within a market, researching its value will be easier. Let’s say ...


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