Three Questions You Must Answer
As you study the feasibility of your new venture, it’s easy to lose sight of the big picture. Fundamentally, starting and running a company is a straightforward proposition—you have to sell something to somebody. It’s a common mistake to overthink every detail of your startup, but the truth is that you have to ask—and answer—only three questions:
Answer these three questions comprehensively and you’ll understand what you need to know about your startup—details of the product or service, the size and characteristics of the market, your value proposition, how the competition stacks up, and so on. Ask these questions frequently to stay focused on what’s important.
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