The 2-Minute Opportunity Checklist for Entrepreneurs
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?