The first three points in this startup checklist basically require you to do adequate research into your market. You have to know what the value of your offering is to the people you are offering it to. For example, there's no point in pricing your premium content at $3 a posting when the exact same content is being given away at a larger, more established site.

From my development work with hundreds of managers and executives in leadership programs in Asia, Europe, North America, and South America, from research interviews with many managers in the United States and abroad, and from witnessing managers facing a range of critical moments, I have concluded that their thinking and experience tend to point to a core of just 15 mission-critical leadership principles that vary surprisingly little among companies or countries.

Less than 5% of all purely online businesses (i.e. business that have no traditional, physical counterpart) ever actually make any money. It's hard to draw a decent living from the Internet, but because it is easy to setup, the allure is great enough to keep people trying. If you are to be successful it is imperative that you avoid the mistake of not being disciplined in your approach.
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