ADU 01121: How Do I Determine the Commercial Viability of a New Drone Business?

Today's show is about starting a new drone business. How can you conduct a thorough market validation exercise, and discover if it is worth investing in new business? Our caller for today, Jose is an army man on the verge of retirement. Jose is keen to start a UAV business once he commences his civilian life. Considering his background and all the critical skills that he has picked up over the years, what industry verticals should he target? How can he research the market and discover industry verticals that are a good fit for him? Topics discussed on this show include creative fields vs. technical fields, the importance of following your passion, developing an aptitude of continuous learning, and much, much more… We hope you enjoy this show! Hone your drone skills by signing up for one of our webinars or online classes - and make the most of this downtime! - https://www.thedroneu.com/droneu-events/ Recently crashed your drone? Unable to find trained technicians who can repair your drone quickly and at a reasonable rate? Don’t fret. The cool folks at Fortress UAV can help you get your drone back up in the air in as little as 7 days! Use Promo Code “DroneU” to get 25% off. Drone U Members get an extra 5% off on total repair costs. Check them out now! Get Your Biggest and Most Common Drone Certificate Questions Answered by Downloading this FREE Part 107 PDF Make sure to get yourself the all-new Drone U landing pad! Get your questions answered: https://thedroneu.com/. If you enjoy the show, the #1 thing you can do to help us out is to subscribe to it on iTunes. Can we ask you to do that for us real quick? While you're there, leave us a 5-star review, if you're inclined to do so. Thanks! https://itunes.apple.com/us/podcast/ask-drone-u/id967352832. Become a Drone U Member. Access to over 30 courses, great resources, and our incredible community.Follow us:Site - https://thedroneu.com/Facebook - https://www.facebook.com/droneuInstagram - https://instagram.com/thedroneu/Twitter - https://twitter.com/thedroneuYouTube - https://www.youtube.com/c/droneu Timestamps [03:50] Today's question is about starting a new drone business [06:25] How can you find reliable market research resources when starting a new drone business? [08:00] Is it better to get into a creative or technical field? [10:12] Importance of following your passion [12:25] Are you taking into consideration all possible business risks? [13:40] Some common mistakes that drone pilots make when they venture into drone mapping and modeling [15:18] Do you have an aptitude for continuous learning? [17:24] How being a part of a like-minded and progressive community can help you [20:06] Which have been some of the most popular drone applications during COVID? https://www.youtube.com/watch?v=QvfJfVnqk18