Is Your Web Site Really Marketable?

In general, some ideas are doomed for failure from the moment of inception. For instance, the medical tonic for "stupid vision" described in the Ebert papyrus of ancient Egypt. This was a concoction of pig’s tears, lead and honey that was meant to be poured down a blind man’s ears. Bad idea? I should think so!

In addition to bad ideas, many nations have archaic laws that are actually still in effect, even though nobody knows about them. When we learn of them, we usually end up rolling on the floor laughing. For example, Wisconsin state law makes it illegal to serve apple pie without cheese. In Memphis, Tennessee, it is illegal for frogs to croak after 11 PM. In England it is illegal for a Member of Parliament to walk into the House of Commons in a suit of armor.

As extreme as these examples are, thousands of people try to develop Internet businesses around ideas of the same mental magnitude or general irrelevance. Do you have a concept for a new e-business Web site? Is your concept marketable, good enough to be accepted by your target demographic? Will your concept stand the test of time? How do you know if your idea is a good one or a bad one? The answer lies in research.

Research involves more than asking your friends what they think. If your idea is bad, they will either be up front and say so, or praise it because they think they’re encouraging you.

The most effective way of determining if your idea is a good one is to ask your potential customer base. Obtain a mailing list of people interested in your type of product or service and send out questionairs. Learn as much about your target Web audience as you can. What do they need to make their lives better and richer? How much would they be willing to pay for your product or service?

You may also want to talk to others related to the field, but do not give away the store. Prepare a list of key questions that will help you understand your target market. Then ask your questions in an informal setting. Go to trade shows and seminars. Read everything you can related to your concept. Absorb as much information as possible.

Once you’ve convinced yourself that you’re on the right track, commit your idea to a business plan. This is important even if you have an established brick and mortar business and are just bringing it to the World Wide Web. It helps to organize and streamline your thoughts. The business plan is a key element in the design process. Be creative and accurate.

If you have capital to develop your project you may still want to distribute your plan to investors. If they consistently balk, it is time to reevaluate your idea. If you find an investor that believes in your idea, he or she may be able to assist you in refining it, streamlining it.

To sum up, determining if your Web site concept is really marketable requires research! Never assume that your idea will fly. Do your homework!