Once you have identified your business plan, and a concept of the idea, it is time for the verification phase. Together, we proceed step-by-step with you - the client, to ascertain the true value and success rate of the proposition.
Based on market research we are now aware of the potential competition and this step involves further analyzing their products and categorized services. If you can see your product fall into one of the categories while still being competitive for your target group, its potential rises.
Supply and demand review
If the supply and demand in the area of business you are about to enter are both high, the chances of being competitive and successful are lower. However, if you have discovered a sector with a high demand and low supply - your chances to be successful have further increased.
Feedback from other people such as your family, friends or even strangers on social networks is a very a valuable way to evaluate your business idea. Your business concept is truly relevant if you are already hearing back that they would like to buy or at least try your product or service.