I continue to hit up top experts for top advice.
Assessing Market, Magic, and Moxie can be used as a quick self-test of any entrepreneurial business concept.
Does the concept have a Market?
An example of a powerful underlying Market trend is the baby boom demographic. An example of a related, compelling end-user need might be late-life comfort, convenience, and medical care.
Does it have Magic?
A Magical response to the market trend might be to provide products or services to a transition retirement community. Missing from some transition communities are walk-able services for still healthy, active seniors, such as a coffee shop, a book store, a small market, a pub. Those might be significant differentiators that create Magic.
And do you have Moxie?
Moxie – Pronunciation: \ˈmäk-sē\ Function: noun Etymology: from Moxie, a trademark for a soft drink Date: 1930 1 : energy pep 2 : courage determination 3 : know-how Moxie in this case would be the drive of the entrepreneur to convince a transition community to give him or her an option to provide such services on their grounds, then to get the town to permit them, and so on.
If you did a self-test of the Market, Magic, and Moxie of your entrepreneurial concept, how did yours do?
I wrote in this post that if I had a high-tech idea, that is, a good high-tech idea–Jim didn’t get back to me on my nanoblog idea–I would run it by Jim Flowers at Concept Camp. He’s got a lot more than three pieces of advice to share.