Every successful business out there exists to solve a specific problem. Can you concisely write down the answer for the next two questions?
- What problem my business is trying to solve?
- If I am facing the same problem, will I choose my business?
Now evaluate the answers you have written. Is it straight-forward? If you can easily communicate the very problem your business is trying to solve in simple words (without having to think about your idea), then you have a real problem to solve.
If the language is complex or you have taken some effort to explain the problem itself, the business idea is likely to reach a smaller space or even fail. Do not try to introduce a problem and then solve it for the sake of your idea.
This is not usual for experimental ideas. Always dare the norm and do not shy away from experimenting.
raguthelenny - What about the issue of … ·
True. I consider monetization as the second step after the idea validation. Once the foundation has been laid for your idea first, it will be later easy to bend it to form a clear revenue model.
thelenny ·
What about the issue of revenue model? Sometimes you can have an idea that ticks all the above boxes but cannot be easily monetized