We see this weekly on the forum.
"Hey guys I'm new here, I had a great idea to sell widgets to custom picture framing stores!"
Then we get the inevitable analysis.
"Well based on research, custom framing is being take over by craft stores like Micheals and Joann Fabric. There are only 1,200 operating in the country. If you could sell 2 widgets to, 10% that's only 240 widgets. I don't think your market is there."
Save yourself the headache of coming up with your billion dollar idea then finding out a market simply doesn't exist. Visit https://business.highbeam.com/industry-reports
You can get a good overview of the market you're targeting for quick validation. If it passes this quick litmus test of simple numbers, then you can move on to more in depth market research and validation.
We see it time and time again. VALIDATE before you execute. There are plenty of current and former Fastlaners who made this mistake, learn from it so you can save yourself time and money.
*disclaimer: I do not own or have any connection with that website. It is simply a tool I used to evaluate the market for my business. I found it through Google search.
"Hey guys I'm new here, I had a great idea to sell widgets to custom picture framing stores!"
Then we get the inevitable analysis.
"Well based on research, custom framing is being take over by craft stores like Micheals and Joann Fabric. There are only 1,200 operating in the country. If you could sell 2 widgets to, 10% that's only 240 widgets. I don't think your market is there."
Save yourself the headache of coming up with your billion dollar idea then finding out a market simply doesn't exist. Visit https://business.highbeam.com/industry-reports
You can get a good overview of the market you're targeting for quick validation. If it passes this quick litmus test of simple numbers, then you can move on to more in depth market research and validation.
We see it time and time again. VALIDATE before you execute. There are plenty of current and former Fastlaners who made this mistake, learn from it so you can save yourself time and money.
*disclaimer: I do not own or have any connection with that website. It is simply a tool I used to evaluate the market for my business. I found it through Google search.
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