- Step 2-1 : New – Does your idea have a new element?
- Step 2-2: Attractive market
- Step 2-3: Attractive profits
- Step 2-4: Scalability
- Step 2-5: Trend
- Step 2-6 : Feasibility analysis
Any project idea has to have a new element to be profitable for long-term growth.
We don’t say that they all have to be new, but they must have some new elements.
New Product
These are the strongest and toughest ideas. But access makes you very special and takes precedence in the market, but at the same time you have to inform the market about your new product
| IPOD It was a brand-new product on the market and remained squared on the throne of portable music devices. |  |
 | Cinnabon a novel and non-technological concept, but because it is novel, it generates profits and expansion in many countries around the world. |
New Service
If you value a whole new service, it’s great, but beware of rushing, what you think you’re the first to think.
| AIRBNB A brand new service, at the time of its appearance. It allows anyone with a vacant room in his apartment to offer it for rent. |  |
 | UBER A brand new service – when it appeared – allows individuals to order a taxi through a mobile. |
New Market
Your idea may not be new in the market you want to work in, but it can work successfully in another market. So you can take this idea to your target market. This is an excellent way to make successful projects because they have proven successful in other markets and are now understandable to investors.
Careem The same idea as Uber was transferred from overseas markets to work in the Egyptian and UAE markets. |  |
 | Souq.com It is an online store displaying products of all kinds. It is the same idea as Amazon, and the idea was transferred to the Egyptian and then Arab markets. |
New Business model
Every successful project has to have a solid business model on which to build. In short, the word “business model” means two things:
- What are you doing?
- How will you make profits?
An example is the evolution of books business :
- The earnings in the bookmaking industry were once made from printing and selling.
- Then it evolved and e-books appeared PDF (PDF Online)
- Then it evolved with Amazon’s monthly subscriptions. During the month, you can read any number of books you want.
- Then the business model evolved, and audiobooks began to be sold.
- Then the model evolved until it reached the monthly subscription to hear any number of books you want as in the Audible service
New Features
Your idea is very likely to be a duplicate, and therefore you need to distinguish it by having new features. This is how all major companies continue to sell their products, continuing to offer new features for their products every period so that people will continue to buy them.
Even if the project is to open a restaurant, you have to think about something that features it
| Sensors feature in modern cars Cars as a product are not new, but companies compete by offering them new features to encourage buyers to buy. |  |