Conduct thorough market research to determine if there are billions of dollars being made in your market, and analyze your competitors' products to inform your strategy.

Evaluate your startup idea based on its potential scale, such as whether it could generate significant revenue and if it aligns with venture capital expectations.

You need a big market for your startup, which typically means a billion-dollar market, or a small but rapidly growing market.

Before taking your product to market, consider how you will create and deliver value to ensure your business is sustainable.

Understand your market by analyzing your competitors, their market segmentation, and where your product fits within that landscape.

My business criteria for new ventures is to ensure there is a large market and capable competitors, as this indicates a viable opportunity for success.

Young entrepreneurs often evolve their projects organically without realizing they are running a company; it's crucial to assess if the market can support a large company.

Before leaving your job, ensure you've validated your idea. Market demand is crucial; do people actually want what you're offering? This validation can help you take the leap with confidence, knowing it's based on solid evidence rather than just a shot in the dark.

Know your financial metrics, including net and gross revenue, to understand your gross margin and overall profitability.