Small Business Ideas From Home – Why You Should Test Your New Business Idea First
As a home business entrepreneur I am sure that you have many small business idea from home going round in your head. It is in the DNA of any entrepreneur to spot opportunities that they can start a business venture from and make money.
Some people rush in head first and go with it before they have properly thought anything through. They set up their website and start advertising what they think is the next big thing but all too frequently the idea flops and they lose a lot of money in the process. This all stems from not doing the necessary research and testing to see if there is a market for the product or service and to check that it actually works.
As a general rule of thumb only 1 in 3 new business ideas will survive the first 10 years in business. If you want to be in the 33.33% then I recommend that you take some notice of the points that I am going to share with you about testing your small business ideas from home, so that you can go to the marketplace well equipped to survive and succeed.
Small Business Ideas From Home – 3 Tips About What To Do To Test Your New Home Business Idea
Small Business Ideas From Home – 1. Don’t Rush Into Anything
I know that you want to get started as soon as possible, and I don’t want to stop the momentum that you may have, but I am asking you to put the handbrake on for just a little while.
Why do I say that? Well, if you wait just a few weeks then you may be able to think more clearly and have more clarity on whether your idea is as good as you first thought. It will give you time to analyse everything about your concept and you will be able to see if there is a better alternative by making just a few tweaks.
Maybe you won’t be able to do everything on your own so you will need to find people who can either partner with you or help you get things off the ground. Just take some time to create a plan of action.
Small Business Ideas From Home – 2. Create A Prototype
Whatever your product idea is you will need to build a prototype. This gives you something that is tangible that you can see and use. If you are thinking about creating a physical product then it can become tricky at first. It will have a lot of moving parts that need to be crafted so that they all fit together and work.
This could be expensive and you will need to follow industry guidelines on health and safety to make sure that it is fit for purpose.
Digital products on the other hand are much easier to create and modify. They are also a lot cheaper because they are virtual and there are many highly sophisticated software programs that you can use to create stunning information products.
Which ever type of product you choose to create you will then need to get feedback from your subscribers, followers and customers.
Small Business Ideas From Home – 3. Get Feedback On Your Product
There are a few ways that you can do this. First you could ask your close circle of family and friends to test your product and give you feedback.
Or you could find other people in your industry who you trust to try it out and give their expert opinions on it. The other way is to advertise for product testers and then give them a free copy of your product in return for an honest review.
Then what you do is analyse all the feedback you receive and look to where you can improve your product or service. Once you are satisfied that your product or service lives up to what you say it will do, you can then go into mass production and marketing.
It is now over to you develop the small business ideas from home that you have and start to test them by following the 3 tips that I have shared with you. You may also wish to leave a comment below and continue the conversation with me about your home business ideas.
I have helped hundreds of people with their home business ideas and if you would like any further help then you can contact me here.
I wish you every success in running your home business from anywhere in the world and profiting from your small business ideas from home.