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Hmmm,
I think the technical requirements and such are important, but what's more important is ....... what are you gonna sell???
Be it a product or a service, even other people's products or service (affiliate or white label programs) what is it that you're gonna sell???
Is there a market for it? How's your competition looking? Is the market saturated, or booming?
I personally think after knowing the answers to this, it would be very natural to spend hours and hours of research about what other requirements needed to be fulfilled.
Hence, get the main requirement first, find something to sell!
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