Remember Madlibs? Here’s a cool one for you!
More income means more money to grow…and a better lifestyle along the way. Have an idea to test a new income stream?
Step #1, google search to see who else, if anyone, is already doing it. Contrary to popular belief, you either want lots of people doing it, or none.
If it’s a general, not patented or trademarked idea, like a website or book on decorating with repurposed items, for example, you want to see lots of people doing it. This indicates that there’s strong interest in your intended market.
If it’s a unique product invention, you probably want no one doing it just the way you wanted to do it. It may even be patented. If your idea is a little different, it may still make sense for further digging.
Next, complete this Startup Madlib, with special attention to the problem you’re solving. It will cut right through the core of your idea.