Your first step is marketing. If your idea does not pass this step then you must dump it or change it. The first step in marketing is research.

Start by individually asking 10 or 20 of your friends this question "If there was a way to <insert your idea here> would you use it?" Make sure you record their replies word for word.

Any that give you a positive response you must ask them this question "How much would you pay for it?" Again record their responses word for word.

Do you still think your idea is a goer? If not then start again from the top, otherwise continue as follows.

Now you must review your results in more detail. Segment the replies into a number of categories including sex, age group, nationality, married or single, kids or no kids, age of kids, employed or self employed, magazines or newspapers they regularly read and TV shows watched, socio-economic things like suburb, car, income, passtimes or hobbies, interests and so on.

Next you must build your data base. Continue to ask your two questions to everyone you meet even ask your friends for help in building your data base. When you have 100 rerponses you will be in a position to gauge if your initial thoughts were correct. You can also now better understand to whom the idea is most and least appealing. This information is vital.

Again review your results and try to work out the segment that are most and least interested. Next is to test your results on the identified segments (supporting and non-supporting). This will help you to know how you can connect with your target segments. What things they respond to and most importantly if your initial results were accurate. You may need to refine your segments and keep testing until you get an outcome you are happy to rely on, and one you can present to us at our first meeting.

Remember, it is pointless to go through the expensive process of creating a product without first knowing if it is needed or desired for a reasonable price and by whom.

Here is some free information about market segmentation or clustering in the USA. There are 62 classic American lifestyle types in 15 socioeconomic groupings.

For more information on market segmenting we recommend you buy and read Michael J Weiss' book "The Clustered World : how we live, what we buy, and what it all means about who we are".

So you must go through this process and revise and test your idea until you have confidence that you have a target market that is big enough and keen enough. You will also have some ideas about how to reach the market and an understanding of what these people value.

You should be feeling like you are onto a real winner. Bottle this enthusiasm because unfortunately it is not quite that easy. There are still a few more very imortant steps before you can put a deposit on your new beach side mansion, but you can check the real estate section of the newspaper.

To continue to the next step please now click here.