An idea or invention is not very useful without customers to buy it! Have you considered how potential customers will discover your product? Some ways to market your product are: Having a website and being active in social media Participating in and attending trade shows, and by getting known through your trade association Placing advertisements […]
How will you manufacture and distribute your product or service?
When it comes time to turn your idea into a tangible product, you will have to decide whether you want to start your own business, or approach other businesses to take on the task of developing, producing, packaging and distribution. Do you have the means and the desire to do it yourself? If you are […]
Do you need intellectual property protection for your idea or invention?
Your idea, invention or product may need to be protected from being copied by others.
Will your product or service be able to compete with those of existing businesses?
Once you find out who your customers are, you will need to look at who else is selling similar products and where they are selling them. Will you be competing with a product that has already been marketed? If your idea is a consumer product, check stores and catalogues or visit trade shows to find […]
Who is your customer?
Before you begin selling something, you need to know who you are selling to. If you haven’t determined who your target market is, you are likely to try to be all things to all people and end up with a product nobody likes or a service that doesn’t meet anyone’s needs. When developing a general […]
Will people be willing to pay for your product or service?
A great idea can only translate into a successful business if people are willing to pay for the product or service. First, you need to determine the target market for your offering. Are you planning to sell to young people or to seniors? Is your product primarily for women, men or both? Is it a […]
Is your idea truly original?
You will need to research your idea to see if it is truly original or whether someone else has commercialized it. Capturing a niche market — one that no one else is targeting — may be more profitable than competing with others who sell a similar product or service. A business expert or mentor can […]
Developing your business idea
If you decide to start a new business, you will need to spend some time developing your business idea. One of the greatest advantages of being an entrepreneur is being able to work on something that interests you and that you are passionate about. Unfortunately, passion does not always translate into profits. Research, research, research! […]
6 Powerful Hacks to Increase Mental Toughness
Being mentally strong is one of those personal attributes that everyone could benefit from possessing. Since we all encounter personal challenges and difficulties in our life, the ability to stay psychologically strong is invaluable. But is mental strength something we are just born to? Or can it be developed? Luckily, there are ways to enhance […]
21 Marketing Habits that are essential for small business success
Are you just getting started with a new business venture? Need some help in marketing your services to bring in more clients? A solid marketing strategy is essential for any new business, simply knowing how to provide your products or services isn’t enough to achieve success. Whether you gain new business by word of mouth, […]
