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Online Marketing Strategy: How can I research what entrepreneurial business endeavor I would have the most success with?
LV
LV
Lee von Kraus, Unique Insights, Creative Solutions answered:

In order to pick "which would be best" do market research on each. That will not only give you an idea of which is most likely to be economically viable, but it will also let you to start refining / iterating each idea to one that might work better.

For each idea find out:
1)
- Who would want it?
- Who would pay for it it?
2)
- How many buyers could there be?
- How much would they pay for it in their lifetime?
- How much would it cost you to produce each product?
3)
- What have your potential customers tried before, and why did it fail (you'll want to avoid the failure reasons with your idea)?
- Is there existing competition, and how would you be different / better?

To get answers to these questions you can:
1) Ask friends / family
2) Ask people at Meetups
3) Ask people online (forums like Quora and Reddit)
4) Ask people that have had previous experience in the fields you're exploring.

The answers to the questions will let you rank your ideas in terms of most likely to least likely to work. Start with the most likely one, or if you have time /resources to simultaneously test the waters on two of them, pick the top two.

Implement the top idea as a "minimum viable product" (MVP), and see how it goes. Iterate according to feedback you get. Set defined timeline goals of success and see if you can meet them. Continue iterating tactics / ideas / etc. to follow the promising data.

If you'd like to discuss any of these steps in more detail in relation to your specific ideas let me know,

best,

Lee

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