Want small business success? Know your market.
That’s good advice.
Every entrepreneur thinks they have the next greatest idea, but you’ll stand a far better chance at success if you take the time to reflect on it before you quit your day job.
I almost missed this article from the WSJ online. Fortunately for me, Jeff Cornwall mentioned it today in a post on The Entrepreneurial Mind.
I recommend reading the whole article of course, but here are some key things you should ask yourself until you do-
In other words, does anyone else like it too.
Whatever it is, knowing why you are doing what you are doing will help you focus and do it well.
Did someone else beat you to it? If so, be prepared to let consumers know why is your idea or product is better.
You can’t plan for everything, but recognizing where your may run into trouble a head of time means you can adjust faster.
Jeff is the Director of the Center for Entrepreneurship at Belmont University.