Before you get started find out if people are interested in buying your products or services. Find out who your competitors are and whether the market can sustain your business.
Conduct some research to see whether your idea is really feasible. This will involve gathering, analysing and evaluating information to help you formulate your business goals.
Some questions to consider are:
- What product/service will you provide?
- Is your idea feasible?
- How will you protect your idea?
- Is there a market for your product/service?
- What skills do you need?
- Who are your competitors?
- What difference will you bring to the market?
- Do you have the financial capacity?