Eureka! You have a business idea for your start up company. That’s great, but, how do you know that it has potential? The next question that probably begs to be answered is, how do you gauge the market demand for your start up idea?
Here are some tips to get you started
1) Decode market demand with Google. Googling your idea has its benefits and you are most likely to get the answers you need—since almost everything else is almost there online. You could begin by making use of their Google Adwords Keyword Tool in order to let you measure the number of people looking for your business idea.
2) Make a landing page online. It helps you to gather a customer buy-in even if you don’t have a product yet. Make a promo landing page or a teaser—that emphasizes your startup’s core proposition. Ask for the email addresses of your visitors, in exchange for sharing updates about your startup or giving them offers. And the number of your email subscribers would t you know just how many people will be interested in your startup concept.
Time to leverage your crowd’s power. Crowdfunding is a brilliant platform in which you can in fact solicit some actual buy-in for your products/services. This idea has been effective with the likes of RocketHub and Kickstarter. Aside from the advantage of getting some funding for your startup, you will also find out the number of individuals that are really interested in what you have to offer them