Tuesday, December 14, 2010

How one entrepreneur turned a $177 test into a $120,000 company - without breaking a sweat or the law!

On July 1, 1998, Nike debuted the slogan, "Just Do It". This action oriented phrase then sparked a whole revolution of new weekend athletes, which made Nike into one of the most iconic brands known around the world today. Sometimes, there really is no substitute for taking action.

Many entrepreneurs spend a great deal of time researching potential markets, developing extensive business plans and then belaboring relatively inconsequential business decisions until "analysis paralysis" sets in. In the end, their hopes and dreams die inside a smoldering pile of ashes from their never well executed business plan.

In absence of a magical crystal ball, conducting a real life market test is one the best solutions to reducing the uncertainty about the feasibility of your business concept. Whether you develop a working prototype that can then be perfected through spontaneous innovation, or by carefully asking your customer base questions to reveal a problem waiting for a solution, taking action can put you on the right path to startup success.

If you think this process will cost too much money, then think again. Here are three anonymous (but very real) entrepreneurs who tested each of their ideas for around $50, and turned them into much greater successes.

Read Now.

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