A good idea to startup business or good idea for a new product or service specifically are two separate lines of thought and reasoning. All too often these lines of thought get blended as being the same by many startup entrepreneurs.
A good idea to startup business.
Is when an identified opportunity coupled with relevant research, developing understanding for a business model and assessing all the costs suggests potential for business viability and scalability.
Idea for a new product.
Or innovating an existing offering should only proceed after gaining insights to the current market size and future trends which are driven by customer demographics, […]