• Is the market large enough?
Is there money in it, are there competitors making money, can you?
• Is there an existing customer base?
If people are buying, then you know it can be sold, creating a new market means you have to teach the customer why to buy from you. You want a market that knows what you are selling and knows they need it..
• Is there an opportunity to dominate the market?
What is your unique advantage or selling proposition? Is there something you have that gives you an edge over your competitors?
• Can existing technology be used to rapidly grow the business?
Taking new technology into a an old market can give an advantage, and can you business scale?
• Can the company be profitable and will investors participate?
Can you make money at this, how?
• Is there a meaningful exit opportunity?
You will want to set up be able to sell your business one day; either to exit and move on, retire, or just doing that so your business systems are stable.
Internet Prophets: The World's Leading Experts Reveal How to Profit Online by Steve Olsher