What is the best way to determine if my business idea is appropriate or too risky?
My friend and I would like to start a social network to share and explore various health practices around the world. We see health care as a holistic lifestyle process. This will be online platform with user-generated content, that occupies a specific niche - lack of information about healthy lifestyle practices, traditional health knowledge and contemporary health innovations.
Our goals would be:
1. Improving costumers' quality of life through improving health self-care and sharing good practices outside the institutions and the formal public policies.
2. Spreading free, noncommercial knowledge about health care.
3. Providing healthier lifestyles for over a billion uninsured people.
4. Giving a place for new research and knowledge.
What are the best ways to get feedback on our idea before spending a lot of time and money on building the network?
If you want to test a business idea, the best process I know is the approach of Ash Maurya. Check his website http://leanstack.com/ and google for his name and "running lean", Ash provides a lot of free resources regarding his methodology that will give you an idea on the process and where to start.
I had a look at your facebook site. If I understand your plan correctly, you will have the issue of qualifying the "information" that is around, and separate the myth from actual knowledge. In addition, if it comes to health, individual situation and context might have a strong influence on how to interprete a recommendation.
Health advise is already one of the most crowded "niches" on the internet. Curating these huge ongoing discussions, or even more: Separating the wheat from the chaff, won't be easy on such a complex topic. Maybe you want to focus on the basic, common knowledge issues of healthy lifestyles in general - then you could follow the paths of thousands of other health guru sites and copy their strategies to generate reputation and build trust.
If you want to do more and actually add value by qualifying assertions being made online, helping your audience to tell mere opinion from actual facts, you would need either subject matter experts or some artificial intelligence like algorithm to filter data and automatically generate knowledge from mere data - something I do not know if it exists...Good luck, anyway...
start a facebook page and it you get 10 000 people migrate to a platform
In my experience that best way for me to know if my idea is valuable is to write up a survey and send to my existing email list as well as doing some targeted Facebook posts and ads (small cost).
Make the survey is short and simple, 5 questions or less. Have 1-2 questions in a multiple choice format and the rest as a 'fill in' the answer format. You want fill in answer boxes because it really tells you in their own words what they want.
You can offer a free gift for taking the survey, it could be a special report, tips, etc that pertain to your topic (of course).
People love to tell you what they want
Good Luck and have fun creating your survey.
PS. If the 1st one doesn't produce, tweak it and try again
Love & Peace,
Hi Ivan, health is a personal state of wellbeing ..cataloguing meaningful data will be a challenge it is similar to tate of food, "one man’s medicine is other man’s poison ...Social media is a crowded market place an already seeing casualties...user generated content cannot be monetised even Facebook is struggling with that aspect ...so please keep these twist and turns before you turn your idea into an effort intensive money gobbling project ..
Health is a big and profitable niche. You state "free knowledge" so you have no product or service?
If you don't have a solid, "testable" strategy and plan for monetizing this project, I'd stay away from it, unless you can get a sponsor (crowdfunding only last so long.)
The best way to get feedback on your idea is just to get it done. Fear of failure and of looking bad in front of your family and friends is probably the one thing that keeps great ideas from getting off the ground. Building a business takes time and patience and yes it does take some money but if you have the patience and persistence to see your idea through, there will be nothing holding back your success.
The validation of any business idea starts with the development of a business model. What will you do? For whom? What will you need to provide what you propose? You can find free "Business Model Canvases" on the Internet to work with.
When you've developed a model to your satisfaction, test each assumption by talking to those you anticipate will be involved.
Will people be interested - not just initially, but over the long term?
Will you be able to generate revenue to support the endeavor and, therefore,be able to pay those working with you and those vendors you anticipate working with.
There are many ways to achieve a goal. Find a business model that works for you (and your customers.)
Hi fellows, one little clarification - I'm not afraid from business risk , my concerns are about all fake information which come over us, day after day, from Internet and how to decrease this potential dangerous information?
If we want to help people and to make their life better, than we have to make sure that at least the information is previously checked.
Dear Ivan, your question is very pertinent and very frequent. This is because ideas often overshadow our ability to understand the real situation we are about to embark when starting a new venture. I am launching a book to help my students and other potential entrepreneurs in your situation to improve their ability to recognize their stronger entrepreneurial potential. Please take a look at least to the book description and it first reviews: http://bit.ly/upsidedownstartup
Start small and grow with momentum. If you can show success on a small scale and present a sound plan to up-scale, you increase your chances of finding investors if you really need them.