Chapter 4
Testing an Opportunity Before You Leap
IN THIS CHAPTER
Passing the entry exam
Converting an idea into a business concept
Running your concept past the critics
Getting serious with a feasibility analysis
Sometimes it seems that today’s entrepreneurs come up with an idea over coffee one morning and by the next day or so, they’re in business. At least, that’s the way it appears from all the media stories, particularly those about Internet businesses. The reality is something quite different, however. Most businesses take a lot of time and preparation before they’re ready to compete in the marketplace.
While it is true that companies like Amazon have made it theoretically possible for you to be doing business on the Internet in a matter of minutes, that doesn’t mean that just because you have your website up, people will automatically flock to it. And even if they land on your site through a search engine or just by accident, it doesn’t mean they’ll stay, and it doesn’t mean they’ll purchase anything.
Every new business idea needs to be tested and proven in the marketplace, ...
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