Launch a company

As you begin to do some market research and narrow down to specific business ideas, Heres some great questions to ask yourself on business viability of your product /service
(Reference: Software Product Management Essentials , Alyssa S.Dver
And Harvard Business Review on Entrepreneurship)

a) Why is the product unique?
b) What benefits does it bring to the people who use it? What happens if they don’t use it?
c) What other products are available that compete directly or indirectly with the product?
d) Are there other ways for potential customers to achieve the same results if they don’t use the product?
e) What type of people will buy the product? What other products do these people buy? How do they make decisions about buying this product or service?
f) How will the product/service be priced?
g) How much does it cost to produce the product (manufacturing cost), cost to acquire a customer?Cost to support a customer? Retain a customer?
h) Reach all identified customer segments (Marketing).