Starting a business begins with an idea. It must focus on solving a problem in the market. At the Concept Stage, you have an idea and are exploring the feasibility of building a product or service based on that idea. Once you have a basic concept, the focus is on determining whether it solves a meaningful problem and whether there anyone would theoretically be interested in the solution. Your idea should reduce someone else’s pain or give them a concrete benefit or improvement over the existing situation. You will also need to determine how you will build the product or deliver the service, and to identify the target customers, partners, distributors and competitors in your market. Along the way you must refine and develop the product. The more data you collect, the better your analysis, the more refined your idea, the greater the likelihood of success. You must validate the market and potential demand for your product. Once you have your idea refined, you can begin to think about organizing a business.