BLOGS

How to evaluate your business idea

2 weeks ago I came up with a business idea.

I had been thinking a lot about coffee.

More specifically, I’d been thinking about my love for it, how finding a good one is awesome and how receiving a bad one sucks! Then the idea hit me.

I know, I’ll make a mobile app where people can rate coffee’s

Over the last 2 weeks…

  1. I came up with the name ‘CoffeeSnob‘ and checked that www.CoffeeSnob.co.nz is available (it is)
  2. With the help of a friend, I designed this survey to test people’s preferences and habits around coffee (39 responses so far), see the comments below for the results.
  3. I then googled ‘coffee rating apps’ and found BeanHunter and London’s Best Coffee.

Then I killed the idea.

  1. The survey results were ok, but not awesome.
  2. BeanHunter was already doing 70% of what I had proposed for CoffeeSnob and they already had some NZ cafe’s on board.
  3. I hadn’t heard about BeanHunter so it obviously wasn’t that important to me (alarm bells!)

The final nail in the coffin was that I wasn’t sure about how the app would make money.

When I combined the luke-warm feelings above with the thought of launching an app and marketing it  – it all just sounded too hard!

Don’t get me wrong, there is probably a good idea in there somewhere and we all know that anything is possible. But I’d rather move on to my next idea.

Would you like help evaluating your business idea? Let’s talk.

ps – if I was going to proceed with CoffeeSnob I would have created a MVP (minimal viable product) by purchasing the domain name and setting up a basic website using google maps.

Let's make some cool sh*t

Let's make some cool sh*t