Unlock the secrets to entrepreneurial success by delving into the time-tested strategies employed by the most consistently thriving business leaders. Gain invaluable insights into effectively gauging the potential of your business opportunity, drawing from a wealth of experience and expertise. From market analysis to customer validation, learn the proven best practices that can steer you towards maximizing your chances of building a successful venture in today's dynamic and competitive landscape.
Navigating entrepreneurship's uncertainty is daunting, especially for newcomers. Our objective scoring system, developed through evaluating numerous business ideas, offers clarity. Your Concept Evaluation score guides you: proceed confidently, refine your approach, or reassess your strategy.
Have you validated your concept?
The simplest way is to start with these 5 questions:
• What problem are you trying to solve?
• Are your customers aware that they have the problem you are trying to solve?
• How are they solving the problem now?
• Would they buy your product to solve this problem? Why?
•Can you build this product and deliver it to them? Profitably?
If you can't answer every one of these with complete certainty, you are relying on luck more than anything else to make your business succeed.
Business Opportunity Evaluation
• What problem are you solving?
• How do people solve this problem now?
• How do you make money by solving this problem?
• What makes you, your product, or your way of serving your customer better than your competitors?
Product Evaluation
Evaluation of Funding Potential
• How big is your market opportunity?
• What is required to start making your product or delivering your service?
• How much will this cost?
• How successful have you & your co-founders been with past ventures?
• How much money do you need to raise or borrow?
