This is the very beginning of the Startup lifecycle, before your startup is even officially in existence. You’ve got your business idea and you are ready to take the first steps as a founder. But first you must assess just how viable your startup is likely to be.
At this stage, you should be gathering advice and opinion as to the potential of your business idea from as many sources as possible: friends, family, colleagues, business associates, or any industry specialists you may have access. This process should involved a detailed examination of the readiness of the market you wish to enter and, of course, the financial foundation in place.