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Entrepreneurs: How to Screen Business Ideas Quickly

By Kathleen Allen

Part of Entrepreneurship For Dummies Cheat Sheet

Entrepreneurs develop business ideas all the time, but how do you know when to pursue one further? Some entrepreneurs have a hard time screening product ideas, but you can do it very quickly by answering a few simple questions. You’re on the right track if you answer “Yes” to the first three questions and very positively to the final two:

  1. Am I excited about this idea or opportunity?

  2. Do others also think it’s a great idea?

  3. Are there people willing to pay for what I’m offering?

  4. Why am I the person to make this happen?

  5. Why should I go forward with this idea or opportunity now?