Find An Idea, Video

Here’s how to know if your business idea is actually good

Today’s question is:

“How do I know if my ideas are any good?”

Now, here’s an interesting thing. If you ask people what they think of a business idea, almost every single person will say, “Yeah, that sounds good! You should totally do it!”

But would they pay for it? That’s the number one question you need to answer before starting.

I like to use a demand matrix to plot this out. If you take a look at this demand matrix, there are four different quadrants: High End, Golden Goose, Labor of Love, and Mass Market. Take a look at this:



Really study it. Think about different products, like the iPhone, that might fit into various quadrants.

Get the exact framework I use to launch multimillion-dollar products

We use the demand matrix extensively when we develop our products. See some high end, golden goose, and mass market products that we’ve offered over the years. I listed them out along with my complete analysis in The Ultimate Guide to Starting an Online Business. It’s yours free. Just enter your name and email below for instant access.

The Ultimate Guide to Starting an Online Business

You Might Also Like

daniel-monteiro-313651

Find An Idea

Stop hurrying: Why it took me 6 months to find my business idea

Enough with the fairy tales: starting a business is hard. This is my story of taking four ideas and six months to...

spacex-101796

Find An Idea, Grow Your Business

15 hard lessons I learned from my $36,381 product launch

Here are 15 hard-earned lessons on how to create a product launch strategy. These takeaways helped me earn more than $36,000 from...

What-body-type-somatotype-are-you-ectomorph-mesomorph-endomorph-1

Find An Idea

Great business ideas come from your weaknesses, not your strengths

Great business ideas can come from identifying what you’re uniquely bad at, figuring out how to get good at it, and then...