You want to make sure your product is going to survive in the big world of products, right? Even though you’re probably very excited to start making money and you want to show the world your stuff, take the time necessary to take a step back and really make sure you’re making the right decision. Here are just a few questions you should ask yourself before you dive right in.
How Much Can This Product Grow?
Can you potentially expand into other markets, or bring those other markets to you? Let’s use software as an example. Your software runs in such a way that you know you’ll have to do a lot of the manual labor at first, so you won’t grow as fast as a company that doesn’t have to do that same manual labor and can just sell its software. Are you selling your time – which obviously is limited – or are you selling your product that has the room to expand? Think carefully.
Are You Skilled Enough?
It’s obvious that you’re skilled, otherwise you would not be here reading this article. However, are you skilled in the way you need to be skilled to make your business succeed? Be honest with yourself. Can you manage everything the business needs in the way that it needs it, or do you need to hire someone to deal with the money part, or a writer to write your blog? Anything you can’t do will just cost you extra money up front, which isn’t always a bad thing.
