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nobossinc · 10 months

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Unsure If Your Biz Idea Is Good?

Let’s get straight to the point…

You can have the best idea and all the money you need to start, and still fail! It happens every day. But chances are you're not in a position to blow a bag of money on a failed idea.

On the flip side, you can have a ridiculous idea and no money, yet be widely successful. This doesn't happen as often as the above scenario, but it has happened in the history of entrepreneurship. However, the chances of succeeding with all odds stacked against you are nill.

Ideally, you want, and should take, the safer more assured path. The path that confirms your business idea has the potential to be successful.

PURPOSE OF VALIDATING

Validating your business idea is based on its buying market. Take the time to answer these essential questions, and put your new business on a path to success:

Is there a buying market that wants or needs what I'm selling?

How large is my buying market?

What are the potential sales my new business could generate?

Who are my competitors, and how much do they generate in sales?

When doing traditional market research, no amount of data can tell you exactly how well your business will do, for two key reasons:

First, it is based on assumptions. In other words, guessing. Assumptions happen a lot in the business world. One can assume a business will do well, or not, based on industry history.

Secondly, it depends on you. As the Entrepreneur, you are the orchestrator and determining factor to the success of the business.

These two truths remind me of a quote that says:

It's true. And much of business success is trial and error primarily because you need the right solutions, at the right time, with the right efforts, selling to the right market. If these steps are not working in harmony, there will be struggles in your business.

HOW TO VALIDATE YOUR BUSINESS IDEA

The method you choose largely depends on the type of business you are starting. Choose the method that connects with your audience, this will give you the realistic feedback you need to know.

Consider these methods of validation:

MARKET RESEARCH - this traditional method requires the use of market data reports gathered every 2 to 10 years. While these reports are in-depth, they are also very expensive and possibly outdated at the time you need them.

However, there are free university studies that are easy to find online. While these reports are the most current in comparison, there is no guarantee that your industry has been studied in the current year. Other the other hand, you can always ask students to choose your industry for their report. Talk to the professor at your local university.

PROTOTYPE - this common method requires a little time and money, yet the feedback is probably the most reliable. Creating a prototype, or at least the ability to show products in some way is as close as you can get to the real thing. You can survey your customers’ interest by listing the product "for sale" on your website, showing the prototype at tradeshows, or by other methods. If there is an interest then you know you can invest your time and money to bring it to market.

AUDIENCE - this reverse method is ideal for active businesses with a customer base and social media with a focused following. When you are already in business it is easy to introduce something new to your customers.

When you have a focused social media following you want to introduce products and services related to the focus. For example, NOBOSS creates content focused on entrepreneurship and starting a business. Therefore, introducing a new spreadsheet, tool, or resource for entrepreneurs would be appropriate.

The only way to know if your business idea is a great solution is to validate it. Get the facts from your customer base or focused audience. This will save you time and money, and also guide you to the paying customers that want and need what you sell.

Check out these FREE tools to get started:

Find the perfect business idea for you.

Download NOBOSS Trial version to startup!

Do the work and be successful!

#validate #ideation #business idea #solution #how to start a business #market #target market #market share #market potential #market research

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honestlydopecontent14 · 10 months

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Feasibility study is a vital necessity for businesses venturing into new territories or embarking on significant initiatives.

They provide a systematic and comprehensive evaluation of the viability, market potential, financial implications, risks associated with a business.

By conducting feasibility studies, businesses can make informed decisions, allocate resources wisely, mitigate risks, and increase their chances of long-term success.

Embracing feasibility studies as an integral part of the planning process empowers businesses. It enables them to navigate the ever-evolving market landscape with confidence, adaptability, and a clear path to sustainable growth.

#success #feasibilitystudy #market potential #feasible #roleoffeasibilitystudy #business #businessessentials #mitigaterisks #startup #investing

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cplconsult-com · 2 months

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CPL's daily case study on tumblr.... CPL Business Consultants analysed the market potential, cost and functionality of fructo-oligosaccharides (FOS), oligofructose and inulin.

#fructo-oligosaccharides #FOS #oligofructose #inulin #market potential #market strategy #managment consulting #cplconsult

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industry212 · 4 months

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Funding IoT Startups: Strategies for Attracting Investors

Securing the Future: Winning Strategies for Funding IoT Startups and Attracting Investors

Accessing funding in the competitive environment of the Internet of Things (IoT) is an important step for startups looking to scale their innovative solutions strategies -Requires special strategies to attract investors and provides funding for start-ups, providing insight into what drives successful investments in this dynamic and rapidly growing sector.

Clear Value Proposition:

Communicating a clear and compelling value proposition is the foundation of any successful financial plan. IoT startups need to communicate how their solution meets a specific market need, solves a pain, or improves performance in a way that sets them apart from competitors.

Determine market potential:

Investors are looking for start-ups with significant market potential. Conduct comprehensive market research to determine target market size, growth forecast, and scalability of IoT solutions. Demonstrating a deeper understanding of market dynamics and potential return on investment is key to capturing investor interest.

Technological innovations demonstrated:

Highlighting unique and innovative IoT technologies is essential. Whether it's cutting-edge hardware devices, cutting-edge software solutions, or a combination of both, it will attract investors looking for cutting-edge opportunities that emphasize technological innovation and its competitive advantages.

Proof of Concept and Traction:

Investors are more likely to support startups with a proven track record. Confirm the feasibility of the IoT solution by providing evidence of successful proof of concept, research work, or early customer traction validates the viability of the IoT solution. Real-world results and positive feedback from initial deployments build confidence among potential investors.

Scalability and long-term vision:

Investors are interested in start-ups that can provide flexible growth and long-term sustainability. Clearly explain how IoT solutions can scale to reach a wider audience and how the startup plans to evolve in response to market trends. A well-defined long-term vision instills confidence in investors in a startup’s prospects.

Strong Business Model:

A strong and well-defined business model is essential to attract investors. Clearly define revenue, pricing strategies, and profitability strategy. Investors want to see a clear path to funding and a sustainable business model that aligns with the objectives of the IoT startup.

Team Proficiency:

Investors generally bet on the team as much as the technology. Demonstrate the expertise of the founding team, with emphasis on relevant experience in IoT, technology development, and operations management. A strong and qualified team gives confidence that a startup can successfully deliver on its vision.

Managing Safety and Compliance:

Given the nature of the IoT, addressing security concerns is paramount. Clearly state how the startup addresses cybersecurity challenges and complies with industry regulations. Assuring investors of robust security measures and compliance promises increases trust in IoT solutions.

Conclusion:

Funding IoT startups requires a strategic approach that combines a strong value proposition, market potential, technological innovation, and a solid business model. By demonstrating proof of concept, emphasizing scalability, and assembling an experienced team, IoT startups can attract investors looking for opportunities in this exciting and changing industry.

#IoT startups #Funding strategies #Investor attraction #Value proposition #Market potential

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financebyjayberry · 8 months

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Analyzing #NVIDIA Stock: A Tale of Innovation and Investment

In the dynamic world of technology, few companies have captured the imagination of investors like NVIDIA. As we delve into an in-depth analysis of NVIDIA stock, we uncover a narrative of innovation, resilience, and the potential for substantial returns. Earnings Triumph:NVIDIA’s most recent earnings release is nothing short of remarkable. The company’s consistent ability to exceed quarterly…

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healthcaretechnologynews · 8 months

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Evaluating Market Potential: Aligning Salesforce Size with Market Demand

In the fast-paced world of B2B sales, understanding market potential is crucial for optimizing salesforce size. This blog explores effective strategies to assess market demand and align your sales team, accordingly, ensuring they seize every opportunity.

Conduct Comprehensive Market Research: Begin with thorough market research to gain insights into industry trends, customer preferences, and competitors. Analyze data, customer feedback, and expert insights to identify gaps and opportunities in the market.

Define Your Target Customer: Understanding your target customer is key to accurately assessing market potential. Create buyer personas based on demographics and buying behaviour to tailor your sales approach effectively.

Analyze Market Segmentation: Segment the market by geography, industry, and company size. This helps identify high-potential markets and align salesforce size accordingly.

Measure Market Size and Growth: Quantify the market size and assess growth trajectory. Project future trends to anticipate demand fluctuations and align sales team size accordingly.

Evaluate Competitive Landscape: Analyze competitors’ market share and sales strategies. Differentiate your offerings and focus on unexplored niches to capitalize on opportunities.

Utilize Sales Data and Analytics: Leverage sales data and analytics to measure historical performance and identify trends. Make data-driven decisions to align salesforce size effectively.

Monitor Customer Feedback: Regularly collect customer feedback to gauge satisfaction and understand emerging needs. Adapt salesforce size to meet changing requirements.

Assess Sales Team Productivity: Evaluate sales team productivity and effectiveness. Determine the ideal salesforce size for maintaining efficiency and maximizing revenue.

Consider Future Growth and Expansion Plans: Factor in your organization’s growth and expansion plans when aligning salesforce size. Prepare to scale your team as your business reaches new horizons.

Conclusion:

Assessing market potential and aligning salesforce size is vital for sustainable growth in B2B sales. Thorough research, defined target customers, segmentation, and data utilization are key strategies. Continuous monitoring of customer feedback and productivity ensures your sales team remains agile, responsive, and ready to seize opportunities in the ever-evolving B2B landscape.

Visit our website now: https://www.anervea.com/

#pharmaceutical industry #data analytics #marketing #market research #market potential #market demand #pharmaceutical #healthcare #pharmasales

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poorly-drawn-mdzs · 5 months

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i wanna know more about svsss menopause

They synced their periods together too well. Now they are synced through their perimenopause years.

#Poorly drawn svsss #svsss #shen qingqiu #luo binghe #shang qinghua #mobei jun #ask #I truly think that the peak of the SVSSS (peri)menopause era is just them commiserating over the experience of it.#Not pictured here is Liu Qingge barely suppressing his hormonal rage. He would have it *bad*.#I think Liu Mingyan is the only person who does not have a bad time with menopause because she takes estrogen supplements.#Which sounds like a trans headcanon but I think regardless of cis/trans status she's researched this and is prepared.#I have developed a sense for what menopause is purely by exposure to the various complaints I have overheard/been told.#These are all very specific and yet very common stories.#I do not know what the overlap is for SVSSS fans and people (not just women) going through menopause. I hope this is funny to SOMEONE.#It's an untapped market of potential! Too many young'uns in these woods.#Synced periods this. Ovulating that. Where's the menopausal homicidal rage?#Come on! Ripping off your clothing in a sudden burst of heat is *SO* SVSSS core!!! Make perimenopause sexy!!!#Anyways. Please put your menopause headcanons in the comments/tags <3 I'd love to hear them.#Thank you joblessmonday for following up with an ask and giving me an excuse to release this train of thought.

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genshin-impact-updates · 27 days

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Pre-Registration for the "Mondstadt Tourism Revitalization Project" Is in Full Swing!

"Hey, friend!"

"From the look of things, this project's gonna earn me a fortune! Haha... Oh, and by the way — take this flyer, and don't forget to help spread the word! I'll be sure to pay you back with a thank-you gift later on."

Pre-Register For the First Round

Note: Pre-registration for the first round ends on April 1, 2024 23:59 (UTC+8). Don't miss out~

#genshin impact #genshin impact updates #genshin impact news #official #web event #april fools #the mod has so much to do today... you know‚ i'm sensing a lot of untapped market potential in this place!#maybe i'll post a few flyers while they're out...

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yjinq · 8 days

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couldn't they have made a really sickass book? like imagine a book designed and written by the watcher team! i would have 1000% gotten my hands on a watcher book full of bts exclusive notes from them and silly photos or whatever like LITERALLY. i would fight for any special extension it had in book form.

#watcher #watcher tv #shane madej #ryan bergara #idc abt their stupid idea anymore why isnt there a book #cmon gang imagine the potential #i would SO collect watcher books #pls dont bring the silly goofy decision they made onto this post btw lets talk about the market they could have with a best selling book #im just chillin

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chewriting · 9 months

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I just finished my monthly Cassandra Clare re-read, this time being Ghosts of the Shadow Market, and I have come to a great conclusion.

By the start of The Wicked Powers, Kit will have spent about three years learning to live with Church, our resident grumpy old man. And I can't help but believe that this will result in him being so used to cranky animals that when he meets Irene for the first time, he'll be able to get immediately on her good side. Which of course, will be like a shot through Ty's heart.

#my sister also made the wonderful point of Church potentially falling in love with Ty at first sight #and Kit just being exasperated because HE had to earn that affection through months of being a scratching post #ghosts of the shadow market #gosm #cassandra clare #the shadowhunter chronicles #tsc #the dark artifices #tda #kit rook #kit herondale #ty blackthorn #the wicked powers #twp

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annamationsart · 1 month

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may i interest you in a rewrite of the first equestria girls movie where they’re no longer neon and are also in college to be closer to their canon ages in the show

#there was so much potential with this concept that they just didn’t use because they needed to be marketable to little girls… sigh…#i will hopefully be making designs for sunset and other major characters but don’t take my word for it idk how long the brainrot will last #mlp #mlp fim #mlp equestria girls #equestria girls #equestria girls redesign #mlp redesign #mlp eg fanart #mlp eg #mlp fanart #mlp eg redesign #mlp g4 #my little pony #my little pony equestria girls #7 year old me… this one is for you…

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chirpsythismorning · 1 year

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I think what really puts into perspective the likelihood of ST5 premiering in 2025 (I’m gonna predict March 21st for fun), is that a year from now is just barely Summer 2024, and yet as of now, they have not even started filming.

Are fans really expecting them to have season 5 filmed, fully prepped with marketing and promo ready, with everything ready to be released within one year from now (roughly speaking, give or take a couple months)?

In all honesty it's very much the norm for Stranger Things' to have promo leading up to an upcoming season last for months. And I'm not talking like 3-5 months I'm talking a year+.

This isn't like s1 where they put out a trailer and a release date and some low budget marketing roll out on social media, which is something they do for every new Netflix show. This is a $35 million + budget per episode series and thats just to budget for the literal episodes... There are dozens of partnerships they have going on with merchandise and things like that which are discussed and planned for months/years. There are music rights negotiations which go on for months upon years. Shit, post-production has the capacity to take, at the very least half of the time it takes to film, and in some cases as much time or even more. This shit takes time!!!

The build up to a new season is so huge, that each month leading up to it, there are different things dropping, creating the hype that guarantees millions of fans engagement for a long time.

Like 1 year up to the 6 months before the release, promo starts heating up officially. The main accounts for the show will start posting stuff, initially it'll be cryptic using old footage to kind of recap the characters and get us refreshed on where we left off. This time could have some really awesome surprises, but it's mostly casual. If we're lucky we can count on Atlanta filming paparazzi bc those people are insufferable...

6 months up to the one month mark is when it starts to get more real. At this time we're likely to get an episode list announcement, along with sneak peeks and teasers that are quite short, being that they're still likely in the editing process when they are releasing these so it's very much in part them trying to tide us over and keep us interested.

The final 3 months leading up to it is when it gets REAL real. This is at the latest when we'll get a release date announcement, but that's a worst case scenario. I feel like it took so long for them to announce s4, and not until like Feb 2022 bc they wanted to be certain certain. And that could apply to s5 as well. The state of the world isn't like awesome I would say... Look what happened last time? Like it sucks to be the person to say that but I think also considering delays in general, for any reason are a possibility, is also what contributes to my open mindedness about an early 2025 release.

And so based on what we should be expecting for marketing, that means that assuming s5 would somehow premiere in summer 2024, means we are already close to the one year mark, which means promo should be ramping up right now, with literal content to share? And yet we have nothing filmed...?

A lot of people have this idea that s5 is going to take as much time to film as s1 took, which is just not the case. Not saying it will take as long as s4 took, however it's still going to take a while. One of the main factors for this is an in demand cast with conflicting schedules. In a perfect world, everyone would be available all the time throughout the entire production run. Instead what you have is certain actors not available at this time, and so you have to overlap those that need scenes together and schedule according to all of that. And so even if it wouldn't take more than 7 months to film literally, adding another 4+ months might be necessary to accommodate everyones schedules so that they can have these A/B list actors be able to film scenes together.

And then there’s editing and VFX to account for, happening during filming yes, but also with them needing months to focus on AFTER filming is complete. S5 is arguably going to have more VFX than any other season, as most of the season is expected to be surrounded by UD conditions and with the final battle being pretty epic with a 3 headed dragon potentially. Editing is more likely to be 7+ months post filming AT LEAST, vs. like the 4 or less, which is what I think everyone is imagining and telling themselves.

This is also the last season and so they obviously want to focus on the quality, not their ability to churn it out as fast as possible. Rushing for a quick release is just setting themselves up to flop.

The story is over forever after this (excluding spin-off prospects). It would make sense for them to give themselves the wiggle room to make it perfect (the stakes are so fucking high you guys), as opposed to rushing the entire time just to have it release as early as possible.

This also reminds me of what Noah said when asked about s5 premiering in 2024, where he basically just deflected and said that they want to focus on quality… essentially hinting at the fact that it’ll probably not be soon as we’re expecting, but we’re better off for it bc it gives them time to ensure it's the best that it can be and also is just realistic in terms of considering potential unplanned delays.

And then there are the strike implications. While I think the ST production is lucky in that they wouldn't be impacted as much as other productions, that doesn't mean the solidarity won't impact other parts of the production beyond just the writers. This is an industry where people are extremely overworked and underpaid, where a strike could be on the horizon at any moment. And we’re out here telling them hey i know the conditions are horse shit, but I'm gonna need you to step it up and experience even worse conditions bc I need s5 asap... which is just, it’s asking too much if I’m being honest.

Not trying to rain on anyone’s parade here. I know it sucks hearing that it could be another 1 year and 10 months. But lets be serious right now.

All the action that happens in the fandom, building up to the release is arguably just as exciting as the actual premiere and I think we overlook that. Again, once it premieres, it's over. So being so hellbent that it comes as soon as possible, is built on this idea that getting it is the only worthwhile part of this experience, which couldn't be further from the truth. Hiatus and all of the activity that happens during that time is what makes this experience so unique and without it, none of us would be here.

I think realistically, the timeline for s5 production is likely to look something like filming taking place from May 2023-Feb 2024 (giving them AT LEAST 10 months, but if you ask me srs i think it'll take 12...). We should get an announcement post from the official Netflix/ST social media accounts the very day filming starts.

As time passes and they're filming more and more, we will start to get teasers and sneak peaks from the little bit they have filmed from the earlier episodes in the season. Technically they can't spoil that later stuff too much in promotion, so it does work out for us in that sense.

But in all honesty, well planned out and detailed promo is likely to not start getting official until this fall when they’ll actually have at least (hopefully) over half of s5 filmed, and be planning ahead plenty in advance so all of the promo leading up to the release is well thought out.

I won’t rule out Fall 2024. But there are no Friday dates in fall 2024 that ring any bells to me as being the perfect day? Maybe Winter 2024? Or like January/Feb 2025?

The problem is Netflix loves ST for their summers... But summer 2024 is too soon and Summer 2025 is too late imo...

So what it will likely come down to is them trying to be realisitic about their options, and how to ideally get it to match with the setting of the show, which is something they have tried to do with s2-3, but couldn't in s4 (for obvious reasons), and so I definitely see them thinking ahead to try to bring back that approach for s5 if they are able to.

So filming, best case scenario, ends maybe Jan-Feb 2024. If we give them at least 7 months, which is still arguably rushing to me, that lands them in September 2024.

BUT if they were smart they would be realistic and just plan for late 2024/early 2025 so that they don't have to keep delaying... also why they haven't announced a date/year... if it was for certain going to be 2024, they would say it. But they aren't. That alone should tell us they are not willing to make that commitment bc it's not something that can be made when there are so many impromptu factors at play.

I imagine a scenario though honestly, where it takes them a year (12 months to film), so they won't be done until May 2024, which means that they would have until January 2025 to edit with 7 months for that strictly. And that just honestly feels realistic to me to look at instead of hoping that everything just is swift and fast as possible.

Not to mention ST5 2025 just fits.

However, I don't see anything wrong with hoping for late 2024, since as of now I think it is still possible.

But I also think, keeping all of the factors in mind, most notably a potential strike and also them ensuring quality over a speedy release, I think 2025 is something people should also be prepared for as a possibility.

The good news is that we'll know eventually as s5 starts filming and as time goes on.

If filming is complete in 2023 then we could definitely hope for a fall 2024 release. If filming isn't complete officially until early/mid 2024, then pack up your duffel bags bc we're going back to spring break...

#byler #stranger things #stranger things 5 #st promo #st5 preditioncs #i had this in my drafts but bc that rumor from that source #i felt the need to post this #i always get passive aggressive asks when i try to explain why it would be valid for a 2025 release #and i get that people just want it #like i do too #but lets remember we want this shit to be epic crazy good #and we want them to be able to sleep and eat and live not on god awful conditions to succeed in that #marketing is going to go crazy for the final season also #it's going to be like every other season combined #and there there's the potential implications of a 2 vol release....#hell we could get vol 1 in 2024 and vol 2 and 2025 #idk how they'd do it #but 2 vol seems like a major possiblity #and i personally enjoyed getting to theorize in between #i'm sure netflix enjoyed having hype for a show last over 5 months instead of 1-2 at most #it would make sense for them to what to apply that model for the last season of their most memorable series in history...#so that's another thing to consider in terms of release possibilities #AND THEN LETS NOT FORGET ABOUT THE MOVIE DNA BOARD LIKE COME ON WE WILL BE SWAMPED WHEN THAT DROPS #AND THAT COULD LITERALLY DROP WITH IN THE NEXT MONTH TO 5 MONTHS OR SOMEWHERE IN BETWEEN?#or not at all...#we are not ready regardless of thinking we are #which is the best part honestly #we are not ready!!!

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