Six Questions To Determine If Your New Idea Is A Real Business

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Is There A Viable Market For Your Product Or Service?
It's not enough to find a few people who are willing to pay for your new product or service--you have to find more than enough of them to support a vibrant commercial enterprise. Professional investors (like venture capitalists) are especially interested in this question. They don't want to write checks to launch companies with limited growth potential, even if they'll likely be profitable. On the flip side, beware the lure of big numbers--just because there are 50 million U.S. dog owners who spend some $43 billion on their pooches annually doesn't mean enough would be interested in your new canine cologne. Finally, never count on creating markets from scratch--there may well be a reason they don't exist.

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