How to Test Your Business Plan Ideas - dummies

By Steven D. Peterson, Peter E. Jaret, Barbara Findlay Schenck

After some combination of brainstorming, market analysis, and a few random flashes of brilliance, you may accumulate a drawer full of promising business ideas. But, can they go the distance? You should give your business idea a simple test before forging ahead.. Following are two guidelines to help you separate the real opportunities from the fluff:

  • Focus on the ideas that you’re really excited about. Your passion is what will keep you motivated on the road to success.

  • Pursue ideas that you can follow through on. If you feel you don’t have the means or the drive to take an idea from the drawing board to the real world, scrap it.

To help you choose among your ideas, complete a Business Opportunity Evaluation Questionnaire for each possibility you’re considering. Tally your answers and consider any idea with a high score worthy of serious consideration. Be willing to modify your plan to come up with the best ideas.

Use a Business Opportunity Evaluation Questionnaire as a first test for any business idea. If the idea scores high, it still has to pass other hurdles, but at least you know that it’s an idea worth pursuing.