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when getting into a career of business how do you know if your investing into a genuinely good product

I am a junior in high school and i wanted to know how to make wise business decisions for products that entrepreneurs would want investors to support. #business career #business ventures #career

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Simeon’s Answer

Usually, business research on market data is needed to know if a business plan has viability. You have to establish that there is a market for a product, either by showing a small group of buyers that are already interested in the product, establishing that there is a strong demand for similar products, or through some other means. It's important to have experienced advisors guiding you down the path as well.

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Michelle’s Answer

To evaluate if you're investing in a genuinely good product:
- Think about the TAM (Total Addressable Market)
- Test the product in market - get input from end users / clients
- Evaluate whether the product solves for real pain points
- Define a strong monetization strategy for the product
- Find good partners to help with your product/business decisions
- Determine your "moat" - what differentiates your product (Unique Selling Proposition - USP) / prevents other competitors from creating the same thing?

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Catherine’s Answer

• First understand your problem statement. What problem are you trying to solve and for who (who is your customer)?
• Consider the addressable market. What group or segments would are you going to target first?
• Compare the product against its competitors. You can use free websites like https://corp.owler.com/ or https://www.crunchbase.com/
• Investors will look at founders and management team's experience