Business Idea Evaluation
For some people it is easy to think of the idea for the perfect business, but they struggle evaluating the likelihood that it will survive and be successful. The Missouri Small Business Development Center has created an evaluation tool to help individuals analyze their idea. The evaluation forms can be filled out online and then printed. The accounting sections even perform the calculations as the form is filled.
This tool forces the potential business owner to analyze many aspects of operating a successful business. These include the following:
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What need is your business or product fulfilling?
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Who is your customer, in detail?
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Who are your competitors?
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Do you have the financial means to startup?
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Will your business be profitable or even self-sustaining?
The forms also include instructions and information that explains why the answers are important and the impact they will have on the survival of the business. These can be downloaded as one entire form (22 pages) or the expenses analysis can be separated out from the whole. There is also the Financial Projections worksheet in Excel format with instructions .
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