Get a customer to pay you to be the first to use your product/service. That's the easiest and fastest way to test if the business is viable.
How to tell if you have a great idea
"When I ask entrepreneurs why someone should invest in their company I often here this response, “Because we have no competition, no one is doing what we can do.” *Then, I have to break the news to them that in 99% of cases this is going to be a major turn off to investors. *If you have no competition at all, the question is why not? *Maybe others have tried to implement this idea and it did not work. *Maybe the challenges are too great for you to succeed. *Additionally, competition can actually be really helpful, because it gives management someone to learn from, and compete against. *Competition can help keep the management accountable. *If customers are choosing your competitor consistently, investors know it is time to change management. Without a competitor to benchmark against, an investor is left in unknown territory. *There are some investors that love to take huge risks in unproven industries and with unproven business models, but those kind of investors are rare. *If you don’t have competition, you must be prepared with a really good reason to the question “why not?”
4 Most Common Myths Entrepreneurs Believe About Raising Capital