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Key Questions You Must Have the Right Answers To In Order to Know If You Have a *Worthwhile* Online Business Idea

Tennis match score representing key questions you must get right about your business.

Let’s jump right in, shall we?

  1. Do your suspects know (they aren’t “prospects” yet, because they haven’t been qualified)  that they have a problem or, do they know what opportunity (specifically) they are seeking to take advantage of?

    -No? You have no market without spending millions to educate them. Many try. But few companies can afford that.
    -Yes? Proceed…

  2.  Can they describe that problem to themselves?

    -No? If they can’t define their problem,  they aren’t going to recognize your solution, so you don’t have a business.
    -Yes? Proceed..

  3. Are they “bleeding” from the pain of not having a solution to their problem?
    No? They probably aren’t motivated enough.  

    Yes? Proceed…

  4. Do they have money to spend on a solution to their problem?

    No? You don’t have a market.
    Yes?  Proceed…

  5. Are they already actively searching online for solutions to their problem?

    No? Then they aren’t looking to the Internet to find a solution, so you don’t have a business?
    Yes? Proceed…

  6. Are they already actually spending their money on whatever solutions they’ve found so far?

    Yes? Good that means they feel enough pain to reach for their wallets.
    No? You don’t have a business.

  7. Are there ways to discover where online those suspects hang out online, and is there a cost-effective channel available for marketing to them?

    No? You don’t have a business.
    Yes? Proceed

  8. Do you face high “barriers to entry” that prevent you from taking on the already-existing solution providers (barriers might be regulatory; permitting/licensing; political obstacles; contractually or “good-old-boy” locked-up distribution channels; cost of goods that are too high, making net profit too low?

    Yes? You likely don’t have a business?
    No. Proceed…

  9. Do your consumer or business prospects have the family/organizational horsepower to say yes to you.

    No? You don’t have a business.
    Yes? Proceed…

  10. Do the prospects fit into your overall mission/plan?

    No? Do you still want to accept them for the sake of short-term gain? If yes…proceed
    Yes? Proceed…

Thus the winds blow. And may the wind be always at your back!

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