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Any entrepreneur will tell you to look before you jump, and what that means is you should always research your competition before launching a new product or site. This is really the first thing you want to do after you’ve come up with a new idea. Unless your idea is something completely new or out of left field, chances are there is someone (probably on the internet) out there doing what you just thought of in some fashion. This is why you need to know your competition in a particular niche ahead of time before you invest your valuable time and resources into it. No one wants to invest in a new idea that isn’t going to go anywhere! In an effort to help you determine what kind of competition your new idea might be facing, I present you with the 6 questions every entrepreneur should ask. More »
