The Attributes of a Winning Business Idea
Part of the Business Plans Kit For Dummies Cheat Sheet
Lots of businesses start with a great idea. Writing a business plan can help you refine that great idea and put it to its first test. Ask yourself these questions to evaluate your idea as you assemble your business plan:
Is your business idea something you really want to spend time doing?
Do you have the resources, connections, skills, and expertise to turn your business idea into a success story?
Can you explain your business idea in 25 words or less?
Does your business idea address or solve a real customer need, problem, or desire?
Will you offer something new or different than the competition?
Does your business idea take advantage of a new opportunity? Is your business idea the right one at the right time?
Will your business idea make money — and how fast?
Consider a line-up of positive answers a green light — first to start your business planning and then to launch your business.