Ask an Expert: How to get solid feedback on your Big Idea

— -- Q: How do I know if I really have a good idea for a business? What I want to do is a little different, but I think it is a big, great idea. Is there some way to be sure? — Samantha

A: Well, one thing we entrepreneurs tend to share is a belief in ourselves and our ideas. But it is equally true that it is usually a good idea to get some objective feedback so that we don't waste a lot of time or money on a hunch that may or may not be right.

Personally, I first turn to my wife. Plenty of times she will say, "Maybe we should pass on that one, Steve." But sometimes she says, "That's a great idea!" and that is when I know I may be on to a winner.

But for big ideas especially, small business owners usually need more than the advice of friends and family, and when we do, what should we do? Of course, online research can help a lot, but that can also only take you so far.

Here, then, are some other options for getting some much needed business research and feedback — whether you are starting a new business or expanding a current one:

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1. Hire some experts:Find a good MBA program in your area and see whether it participates in the Small Business Institute program. This is a program run by MBA programs nationwide that assigns grad students to intern-type projects — like market research. For a nominal fee, or free, you may get a great team to do some quality research for you. For more information, contact the Small Business Institute.

2. Create an online focus group:How do Fortune 500 companies and presidential candidates know what commercials to use, products to pitch, or ideas to share? They use focus groups. A focus group is a group of people who are shown a product or given an idea and asked to comment upon it.

An easy way to get the same sort of feedback is to find an online discussion group or forum for your industry and ask your questions. Similarly, this would also be a good use of Twitter or LinkedIn — check in with people there and get their feedback.