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how do you calculate how much money your idea can make before investing in it?

by Joe Ox
4 replies
You have an idea. You don't know if it's worthy your time, money and energy. How do you calculate the potential profit that your idea can generate in order to make a decision?
#calculate #idea #investing #make #money
  • Profile picture of the author mahol
    dude there is only one solution over it........you have to consult to big gurus from your niche........only they can predict the profits from the idea and your current resources........there no tool on internet which can read the human mind till now....LOL
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  • Profile picture of the author thatkeywordguy
    Ask your own email list if they would buy it.
    Signature

    Get Keyword Reseacher at CleverGizmos.com.

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  • Profile picture of the author onSubie
    Hi

    It is hard to give more general advice than already given with such little information. And "idea" is far short of "product" or "service" or "income".

    Here are some questions to ask yourself:


    Does your idea solve a problem?

    Do many people share this problem?

    Are these people desperate for a solution?

    Are there solutions available?

    Do those solutions sell well?

    Is your idea different in a way that would naturally attract buyers? Cheaper, easier, works better?

    Does your idea have an angle you can use to position yourself?

    The more "yes" answers you get to these kinds of questions, the more likely you have a profitable idea and can do more specific research.

    As you get closer to an actual product and can look at price points vs expected sales based on other successful products and the nature of your market, you can get quite specific about your expected return. Theoretical return.

    Mahlon
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