Wed 12 Sep 2007
Start with a SWOT analysis
Then, find answers to these questions:
- Are there competitors?
- Does the service satisfy an important need?
- Is it a one time/infrequent purchase or would it be on a subscription model?
- What is the estimated profit margin?
- Does it depend on a lot of people resources to run it?
- How easily would it scale?
- How easy would it be for competitors to copy?
- Does it lend itself to patent/copyright protection?
- What is the market size?
- Are there substitute services?
- Does the service lend itself to the “network effect?”