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Before you make any life-altering changes that can’t easily be undone, take some time first to evaluate your business idea to see if it will work. The first step of the process is to do some research and analysis to dig into the potential of your idea. Here are a few ways to get you started.

The Internet is part of your daily routine. It is not something that is used occasionally, and it is not just about social media. The Internet is now a base for all business communications, and customer convenience is probably the most critical factor, as 71% of the customers believe they will get a better price online. The Internet also means access to a worldwide market and exploitation of global competition.

In the modern world, overstuffed with all kinds of content and information noise, you have to stand out dramatically from the competition to be seen. While there are many ways to try, one of the easiest ways to perform better is to learn from your competitors. And doing it much better. If you’re doing the same thing as everyone else, how do you expect to stand out? Or worse, why should anyone buy from you if they’re already buying the same at other places.

These are questions startups need to answer clearly, effectively and quickly. If not, your target audiences move on. They are time-strapped, and there are so many competitive options. Building a strong value proposition means to start to gain customer perspective, even before you start thinking about the product or service. This leads us to start thinking about the customers’ needs in terms of jobs or tasks they are trying to get done in their daily life. Customers find and experience problems or have an expectation before getting their job done, in the middle of the process and even after the job is done. This kind of challenges and expectations are not only functional.