Starting a successful business requires much more than a great idea. Can you define your innovation in the market?
Most people start with a predefined idea in their head about what they want to sell. The reality is the world may not be waiting for your product or service. Can you define what you will you do, what value will you create that makes you different from similar businesses? Identify exactly what benefits you are delivering: better service, more convenient location, innovative design, hands on training? The process to determine your product involves testing, searching and reacting to feedback provided by your target customers. Never assume you know what your customer wants. unless you have asked. Invest time upfront asking questions to potential customers. Data driven decisions will beat guesswork every time.