Have you tried your business idea?

It's impossible to determine if your business idea is feasible until you've tried your idea with strangers who match the profile of your ideal customer.

"Test it - not just with people you know who are too polite to tell the truth but with honest people who constitute your ideal group, and then pay attention to the comments," said Lisa McCartney, co-founder and head of tutoring and education at PLYTIME.

"If your target sample is saying [your idea] is great and asking where can they obtain it, then you are sure you're on the right track," she added. "But when they're less than enthusiastic then it's probably not the best idea you believed."

Do you wish to be heard to?

If you're not open to altering or adapting your ideas to meet the needs of your customers are looking for, then your business plan may not be worth the effort.

"Success happens when you are willing to listen and consider other's suggestions," said Angie Yasulitis who is the director of the company's CEO and managing partner. The YaZo Group. "Most good ideas take some tweaking before they reach the market. Being stifled is a major business hazard."

How do you market your business effectively?

Entrepreneurs often think only about the problems that their business solves, but they don't think about how they can market their company to potential customers. Jesse Lipson, founder and CEO of Real Magic, said that your small business marketing strategy will determine whether your business idea is viable.

Lipson said that if you have a solid strategy for going to market and have a quality product then you will likely succeed. "But when you've got a great product without any clue about how to get it in front of prospective customers, then it's going to be really difficult to be successful. Thinking through that in the earliest possible time is essential."
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