A Simple 5-Point Checklist For Evaluating If Your Startup App Idea Will Work
The first sign of entrepreneurship is constantly thinking of new ideas and ways to improve existing solutions. Some of your ideas may be good but then comes the one that sounds just right. If you found that idea, here’s a 5-point checklist for evaluating if it is as promising as you thought and is it worth pursuing? 1. Are There Competitors? Competition signals potential and opportunity. If there are competitors, not only do you have a benchmark for evaluating the market and idea based on whether existing companies are successful but also, it’s an easy way to learn what works and what doesn’t. The journey of competitors can be used as a roadmap for you to learn from and base your execution on. If no one solves the problem today, ask why. Usually, it is either because no one has thought of a similar solution or more likely because the opportunity is not worth capturing. To answer this question, research if your future buyers are perhaps hacking a solution togeth...