The 2-Minute Opportunity Checklist for Entrepreneurs

By Carleigh Lowe Monday, March 8, 2010

The Harvard Business Review Blog has a fantastic article, The 2-Minute Opportunity Checklist for Entrepreneurs, that everyone thinking about starting their own business should read. It offers a great checklist to gauge if your business idea meets the criteria to be a hit. Below is an excerpt with a few of the questions to ask yourself:

  • Does your business idea sooth someone's pain, discomfort, frustration, or dissatisfaction?
  • Are there lots of those people out there?
  • Do these people (or companies, or governments) have money to pay for it?
  • Will they be able to decide quickly to buy your product or service?
  • Does your idea exploit something about you that is outstanding or unique?
  • Are there important assets you have that no one else has? (money, access to customers, technology, leadership skills, execution, location, salesmanship, etc.)
  • Can you think of at least two people who might join you?
  • Do their skills complement yours?
  • Do they have the same values as you do?
  • Do the majority of people whose opinion you highly respect think your idea is a good one?

 

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