Someone on Quora asked:
I have a business idea. No competition. Tiny start up costs and overheads. Decentralized commission based and social media driven sales strategy. A very strong value proposition and an absolutely incredible mark up. Any advice for a first time entrepreneur?
This was my response:
Research why you have no competition. It could very well be due to the fact that others have tried to break into the space you’re looking at, yet have failed to figure out how to monetize.
Originally posted on Quora.
Leonard Kim consults startups and writes books like