Family AspirationsBuild Your First Business
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Watch This · Module 01 · My Business

3 Questions to Test Your Business Idea

Sabrina Parsons, CEO of Palo Alto Software (the company that makes LivePlan) · 7 min

Module 1 · Lab 1.1 — before you type an idea into the software

Why this video

How to find out whether an idea is real before you spend anything: Is there actually a market? Can the numbers work on a napkin? What would have to be true for this to fail? You'll meet all three questions again in this course.

What to watch for

  • Her first question is about the market, not the product — the same order as Modules 2 and 3.
  • The napkin math near the middle is exactly what Module 4 turns into a worksheet.
  • “What would make this fail?” is the question a listener will ask in your Module 8 pitch.

Video by LivePlan (Palo Alto Software), played here from YouTube in privacy-enhanced mode. If the player doesn't load, watch it on YouTube. Build Your First Business is published by Family Aspirations and is not affiliated with LivePlan.