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In the embryonic stages, it is likely that a business idea will not have the potential to achieve this simply because it is well known that 9 out of 10 businesses fail.
An idea is free and often people have great and brilliant business ideas that they fail to act on.
The most difficult part of a long journey is taking the first step.
It all happens between the ears and the action resulting from such decisions are simply a forgone conclusion.
If this mental work is so important, then presumably, making sure your excellent idea can actually stand the litmus test and pass in the real world is the main priority.
Most people are blocked by their lack of capital, but even $1350 can turn into a million dollar business if this mental work is done first.
Specifically, what is required is an assessment of your idea by actual potential customers.
That is a giant leap forward and it is free.
It takes maybe 2 days to go out into the street and find 300 potential buyers of your product or service and put the idea to them.
By collecting data in this way and assessing it at the home office, you can quickly and quite efficiently gauge if your idea stands to sell.
You can even ask pricing questions, to understand roughly how much someone would be prepared to pay for such a product or service.
This would give you a ball park idea of profit margins and viability.
This type of activity is the first step of any possible business venture and can later be used as a supporting document to secure venture capital or funding.
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