Part 5/10:
The framework involves analyzing four key quadrants:
Opportunity: Is the market large enough? Can the product command a premium price? What are the production and customer acquisition costs?
Customer: How strong is the need? Do customers deeply desire this solution?
Competition: How saturated is the market? What barriers to entry exist?
Strategy: What skills, resources, and investments are required? What are the key success factors?
By systematically questioning these areas, entrepreneurs can validate whether a business idea is worth pursuing. Archer emphasizes that the process isn’t about finding perfect answers but about asking the right questions to inform smart decision-making.