Do You Have A New Business Idea?
Great business ideas come from a variety of places, sometimes we dream them up and other times we see a need and have a solution that could help. However before implementing any idea, take some time and think about the profitability of your idea and answer the following:
- Is your business idea (service or product) a solution to a problem?
- Define your target customer/clients; is your new idea product or service needed?
- Create a prototype of your product and limit your expenses.
- Determine your "breakeven" price point and how much you need to generate in order to be successful.
- Ask people to test your product based ideas.
- For service based ideas, survey your clients, potential clients and the general public.
- Are your test subjects willing to pay for your new idea?
- Get feedback from the test subjects and refine your idea.
- Research your competitors and their offerings.
- Evaluate all of your collected data and determine the feasibility and profitability of implementing your new business idea.
Implementing a new business idea can be an intimidating process but there is help out there including mentors, coaches and advisers. FL-Accounting & Advisers offers a complimentary consultation to discuss your particular business needs.
Do you need help with implementing your business idea or figuring out your business finances? FL-Accounting & Advisers is your Boutique Accounting Company! Contact us at the link below or call us at (561) 939-2553 for your free consultation.