This video provides you with an overview of the concepts of business validation. Reality is about results, profit, and leverage. Getting investment before proof a bad idea. Avoid being so in love with an idea that you ignore facts and warning signs. Prepa
- So you've got this great business opportunity, right?…Now it's time to go out and get a logo,…get your business cards, form an LLC,…get a loan, set up a website.…Slow down for a second.…The next thing that we want to do is test that idea.…We want to make sure, or as sure as we can possibly be,…that this is a good business opportunity…before we put lots of hours and money into the business.…So what we're going to do is we're going…to create a micro business plan.…
You may love the idea, and you may already be envisioning…creating this corporate (chuckles) empire.…But at this point,…consider that failure is an option.…It's a good option.…We want to test whether or not it's going to succeed.…Because in the real world, this about results…not just your passion.…We also need to make profit.…And if we are successful,…then we can leverage it into the full opportunity…of creating that empire that you envision.…
Now, is there such a thing as…a perfect business opportunity?…No, there never is,…but we can do some things…to increase our probability of success.…
- Recognize effective an ineffective starting points for finding new business ideas.
- Differentiate between business ideas with opportunity factors and those without.
- Break down how demand relates to choosing a business idea.
- List some of the resources you should assess before beginning a business.
- Explain what proprietary advantage is and how it can benefit your business.
- Summarize the benefits of creating a micro business plan before you invest money in your idea.