Any suggestion for a tool that can measure if a potential business idea has a sense in reality? :)

Question

Hi hunters, Hi makers! ^_^
May I kindly ask for a tiny help? :)
Namely, I am into one small business idea. But I am not sure how to do appropriate analytics referring to the kind of business, region, clients, and budget. In fact, I am not sure how to calculate would this idea have a sense in reality... :D
Do you have in mind some platforms, apps, products, tools that can help me dive deep and find solutions for my perplexities? :)
I need both courage and support to give a breath to this idea, so I would be very grateful to hear your advice! ^_^
Thanks so much in advance! ^_^

Andrew Kpyto · Accepted Answer

Not an advice, just kind of my personal opinion: ideas itself can't be meansured in scale of success.

Yes, there are lot of validation theories of ideas, but idea cost nothing before realisation.

Build a MVP. Test your idea, into the real world, with real customers, get your first dollar. Scale it, if your idea works. Close it, if not. That's simple, and yes, it costs money and efforts. If you can't test it, how you gonna to make it, right?

You describe your idea as a small business, so start with investigations about your future competitors. If there are no competitors, be very careful: there are two possible situations. First one: there are no real market, no customers or no value and your idea has no chances. Second one: you are the next one Steve Jobs, your company will be unicorn. Count the percent possibility of each variant ;)

Maria · Answer

@kpyto You have right.... After all, every step like this must consist of certain risks - it anyway pushes to some success ^_^ Thank you very much for so kind advice and so nice explanation! ^_^ I like the unicorn idea tho :D But also, I found in stats that one of the biggest reasons for the bad implementation of a small business is exactly a leak of courage. So thanks a lot for the comment & support - It truly means a lot for finding the way towards that lil dream realization! :))

Any suggestion for a tool that can measure if a potential business idea has a sense in reality? :)

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