How will you know that there is a "Gap" in the market for your business idea?
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Start by analysing the market in which you wish to enter (assuming a market already exists for the product) This will let you consider the problems you may encounter and always consider competition, if there is already someone providing your product/service can you deliver it better, more efficently etc...\n    Perhaps start with P.E.S.T analysis - this considers the following factors affecting the Market and your product/service - POLITICAL, ECONOMIC, SOCIAL, TECHNOLOGICAL....consider the implications of these factors on your idea (e.g with selling an product that could be banned by the government in the future you could have a political problem).\n    Consider something called S.W.O.T analysis....Strengths, Weaknesses, Oppourtunities and Threats...this will look at the market in terms of your business and for you to consider your competitors in threats. Also consider you competitors strengths and weakness (can you compete and what oppourtunities does this present)\n    To further your understanding of the market and where a gap may exist why don't you try drawing something known as a perceptual map. It would have to axis and look much like a cross drawn on a page. To take an example of supermarkets the two axis may be labelled "quality of product's" and "cost" (Very basic examples, you can change these to fit your market) - You can then plot at various points on the graph where the various supermarkets sit. For example in my opinion (if the greatest quality is on the vertical axis at the top and lowest at bottom, whilst cost on the horizontal axis is greatest on the right and lowest on the left) Marks and Spencer may lie in the top right hand corner. Once you fill in all your competitors you may see a gap in the diagram (hopefully where your product/service could lye)
254903
It sounds like you created a new product and you're getting ready to put it on the market. That's great! Here are some steps to consider assuming you have completed the patent process:\n\n1. Create initial prototype in order to check if it works\n2. Prepare a non disclosure form to protect your invention before it hits the market when you show it to prospective investors or dealers or marketing partners\n3. Analyze costs to produce\n4. Evaluate the benefits and features of your product as this will shape your marketing strategy\n5. Get a professional prototype that you will show to prospective retail buyers\n6. Apply for provisional patent\n7. If you want to license the product to a manufacturer, find a licensing agent in your industry (Typically, an inventor can expect to receive royalties of between 3 to 7 percent of net sales)\n8. If you decide to manufacture and market the product yourself, you stand to profit more but will require greater capital
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You gotta get an agent who believes in your idea (because they will get 10% of everything you make from their arrangements).  They can get you in the door to have the pitch.  Agents aren't really trustworthy, but they have all the contacts you don't.
208665
you need to first identify who is your target market,\nsuch as age group,and many more variables, then you can establish a strategy to target that specific group,with\nwhat they identify with in correlation to your product.\nYou know this is very basic stuff, maybe you should hire a firm to help you along.
21575
Place an ad in the paper saying you are looking for investors. Some vent caps place ads in tha paper saying they are Angels (No idea why).\n\nObviously you want to look into their history as best you can to know you are not being snowed. Ask them for folks you can contact to find out about their history of investing in projects.\n\nCheck to see if they have had alliaces or have declared banckruptcy. Check with the better business beuro BBB as to business history.
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Any projection, even in a known market, involves assumptions.  In your case you will have to make a few more, but that is OK.  The key is that you clearly state what your assumptions are.  Then as you gain knowledge of your market and your customers, you can replace assumptions with data, or at least educated assumptions.  \n\nI would suggest starting with some identification of what you consider your market.  Quantify the market (how many companies, how much do they spend on similar products or services, etc.) This type of information should be pretty available unless your product is very obscure or new.  Then, once you know the size of the market, identify and quantify your competition.  How much are they selling to your customers?  How much do you expect their market share to change?  Calculate some measure of market strength or expansion.\n\nSubtract your competition from the market capacity and that is your potential capacity.  I hope this helps!
884149
When you have a new idea for a product or service, there are 5 crucial actions you must take to assure your success. Getting a patent is not one of them. Typically, 70 percent of patents filed are granted. But, only an estimated 2-3% actually makes money. Many inventors and entrepreneurs whose products failed didn't follow these 5 actions.   \n\nYou need to think of yourself as more than just an idea person. Think of yourself as a product developer and marketer. To improve your chances for success, perform the following actions for your idea before filing a patent. I ve used the acronym IDEAS to guide you.\n\nThe 5 Actions\n\nI - Inventor's Notebook:\n\nProtect your idea by documenting all your ideas and plans in an Inventor s Notebook. In the United States it s the first person who documents their idea that gets patent rights rather than the first to file a patent. Use a notebook with a stitched binding and numbered pages. When documenting your idea, get a witness, who has no financial interest in your idea, to sign and date the pages.\n\nD - Determine Competition:\n\nWho is your competition? Find out what they re doing and develop your product with benefits and features that are better than the competition. For example, if your product is meant to save time, it must save more time than other products. If you have a completely new idea, it must perform better than the product that you re trying to replace. While we often like to think there is no competition, there are possible similar products. For example, you might have a new type of toothbrush that is unique. But people might be satisfied with their simple $2 toothbrush or Listerine strips.\n\nE - Evaluate for Marketability:\n\nBefore you invest in a patent or go into production, evaluate your product idea for marketability. Your product must solve a problem or satisfy a need or want. It must also, be better than the competition. Ask yourself if there are large numbers of people who would buy your product other than your friends and family? Also, visualize your product in a finished state and sketch an advertisement. What are the compelling benefits to excite people to buy your product? If none, why build the product?\n\nA - Analyze for Profit Potential:\n\nHow much are people willing to spend for your product versus your costs and expenses? How many will you sell? What are the unit costs and expenses related to developing and marketing your product?\n\nS - Select a Target Market:\n\nOther than everyone can you identify a group of consumers or businesses who will benefit most from your product? You can earn a lot of money by serving a particular group of people. Find a segment of people who have the greatest needs and wants for your product. You must tailor your product and marketing messages to a specific market group based on consumer demographics, business type, or location. You can select a market based on benefits sought such as safety, saving money, improving health or others.\n\nConclusion\n\nOften people rush to get a patent, prototype, and go into production only to find the product is not selling. They later find that there is really no need in the market for the product. Or, the product benefits don t outweigh the selling price. Once you perform the above IDEAS and are satisfied with the results, then consider filing a patent, creating a prototype, and going into production. By getting a patent too early, inventors find themselves committed down a path and find it difficult to change course when new knowledge of the market is gained. Or, by spending all your money on patents and production, there s nothing left to perform the necessary marketing.
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Actually, there are business ideas all around you. Just focus on a need or problem and it will likely generate a business. Like the business of standing in line at the DMV for a fee to get plates for other people who want to save their time. Obvious? Not until someone thought of it.\n\nBe careful of your capital,though. It usually takes at least three time the amount of money of your best estimate to start a business. Why? Entrepeneurs overestimate the initial demand for their product or service and underestimate (or totally miss) costs. Good luck!
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First you have to think of your target market and then tailor your commercial to them.\n\nDecide if you are going for a product differentiation strategy or a least cost strategy.  Are you the best priced item or is your item superior to other items like this because it has some bells and whistles, is selected by more doctors (or some other profession), etc.\n\nWrite a 30 to 60 second spot that incites people to go out buy your product.  Unless it is an infomercial, then you have to think of some kind of demonstration, over acting excited sales reps, and bonuses if you call now whether it is getting it for a lower price or having extra items thrown in for "acting now".
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A feasibility study is exactly what it sounds like.\n\nLet's say you have a great idea for a business.  It sounds great, but without some type of research into the feasibity of your idea in real life, you'll never know if your "good idea" will ever be a "good business."\n\nA feasibility study will tell you, among other things, if you have sufficient capital to fund your business idea.
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you need to define your product, find out who is your target market is(who you are going to sell the product to), find out the place you are going to sell the service at and how you are going to promote it.  You have a lot of work to do.
153568
The most important issue is revenue. They want to know where it will come from, what are similar companies generating for sales, and what should your company be able to sell. the next issue is profit margin, how much of that revenue will you have available to pay back the loan.
126217
Since we can't tell at what point you are in your business planning I agree with answer number two.  SCORE is a great place to get started.  I have added a few more websites if you are still looking for direction/ideas/answers.  \n\nGood Luck
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Wow! tough question! I am a businessman since 12 years and I am still looking for the answer. There are thousands of book about that subject which would describe it better than me.\nFirst be sure that your idea is genuily OK. BE SURE YOU HAVE THE KNOW HOW. I STARTED 3 businesses in retail with my partners. We lost LOTS of money of the chain of pahramcies, now it is profitable. then 2 years ago, we started with optics and children stuff things and we are still loosing money. Why? we subestimated the real costs, not adpated products, too expensive, supplliers with delays (so we get winter baby clothes on 15th december) etc etc etc. you've got the know how, do it! otherwise, RUN!\nSecond, I would say organisation \nThird: be sure you have a minimum of financial backup and and be original by providing services! people love to be treated nicely.\nAll I said also depends on the country and the business size
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check with the better business bureau, or the business improvement area of the city you are establishing the business in. \n\ngood luck.
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you can determine it by previous works, if none then be prepared to make on the spot ad campaigns when you are being interviewed. site previous ideas and works related to your creativity
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Work. And as you work, and work hard, visualize for at least 10 minutes every day the END RESULT of what you want with as much feeling and detail, have faith it is a DONE deal...meaning not something that WILL happen, but something that has ALREADY happend, and try to have a feeling of expectancy about the issue of your desire. If you don't know what to work at or visualize, got to the alpha state (CDs you can listen to are available or you can dowload MP3 files to help you get to that state), and ask yourself what would the best profitable business idea for you to venture into be. keep at it for at least 10 days if you don't get immediate results, and most likely you will get your answer as a flash of insight or in a dream...but needless to say, you will get an answer as long as you have faith in the process.