Business Opportunity Questionnaire

Once you have wrestled with your product or service concept, the next step is to evaluate the potential business opportunity that this concept represents.

This portion of the Idea Wrestler focuses on helping you to answer the following questions.

• Target Market Segments
  Where could you sell this new product or service?

• Buyer Behavior
  What is important in how your customers make their buying decisions?

• Distribution
  How might you get this product to market?

• Market Potential
  How big could the market for this product or service become?

• Profit Potential
  Estimating costs and revenues, do you think you could make a profit?

There are many good product ideas, but the business will fail if you cannot ultimately generate a profit, regardless of how good your idea is. So in this portion of the Idea Wrestler, you are challenged to evaluate how much you might sell, at what cost, and for how much money. You must also think through how you would go about making this product or service, and the methods of distribution you could use to reach your target markets.