How to Evaluate a Business Idea: 25 Point Checklist for Entrepreneurs

How to Evaluate a Business Idea
  • Does it solve a problem? Is there a real need for your product or service?

  • Is there another product or service that solves the same problem?

  • How big is the market for your product or service?

  • Can you describe your product or service in 25 words or less?

  • Is the need for your product new, trending or declining?

  • Can your product solve the problem better, and how?

  • Are there potential liabilities or risks with your product or service?

  • What\'s your potential cost to start the business?

  • What are the potential profits for this business?

  • Can the people who need your product afford it?

  • Is your product patentable?

  • Is your product or service regulated or perishable?

  • Can this business\'s product or service lead to other related products and services?

  • Who are your potential competitors?

  • How long will it take to get your idea to market?

  • Are the potential risks and rewards acceptable?

  • How will you fund your business?

  • Do you want to run this business yourself?

  • Do you have the skills to launch and run this business?

  • What support team will you need for your business?

  • Who will manufacture your product?

  • How would people get your product or service - is it local, shippable or digital?

  • How will you market your product or service?

  • Once purchased, how much support will you have to provide customers?

  • Do you WANT to be an entrepreneur - or do you really just want to make money?

  • Want to be an entrepreneur? The Top 50 Podcasts for Entrepreneurs:

This checklist was created by anthonycaliendo

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