Once you come up with a business idea, you need to know how to assess whether a business idea is worth pursuing. In these articles, we take a look at a number of ways to evaluate a business idea.
- How to Evaluate a Business Idea - Wondering how to evaluate a business idea? To me, every business idea can be categorized as being a HomeRun, a Struggle, a Joyride or a TimeWaster.
- The Best Customer Research Methods - You can Google and Google and Google trying to find information to validate your business idea, but the most effective means for validating a business idea is speaking directly to the customers.
- How to Test Your Business Idea - Save yourself thousands of dollars by first testing and validating your business idea before fully committing to it. Entrepreneurs are eager to push their business ideas as quickly as possible, however conducting the proper short-term due diligence might just be the best insurance policy that you ever take on.
- Scoring Your Business Idea - Entrepreneurs by nature are creative tinkerers whose minds often move much faster than their hands. They often come across several business ideas that they think would be successful, but often struggle on trying to settle on the one business that they can commit themselves too. Using a scorecard to help you assess your ideas before committing to one can be a simple tool to help you find "the one".
- Opportunities Lead to Opportunities if You’re in the Entrepreneur Groove - When one opportunity leads to another the fledgling entrepreneur can find his/herself confused about how to maintain focus. Which idea is the best one to follow when you have a veritable swarm of them to consider?
- Are 2 Businesses Better than 1? - Often an entrepreneur who has enjoyed success with one business will see the potential of starting up another. But is it always
as financially rewarding to do so?
- Why Your Mother's Opinion of Your Business is Valueless - Ever since you first brought home that handmade Mother's Day card from kindergarten your mother has cooed like an ecstatic pigeon about everything you've ever made or created. Is she cooing about your business now? More importantly, should you trust her judgment?
- Success is About People, Not Ideas - What is the bottom line with evaluating a business idea or service? The media has a way of placing successful people on a platform that no one else can reach.
- Think an Idea Is Too Simple? Meet Twitter - Twitter is a site where you simply enter what you are doing at the moment. Simple enough, but the site has a rabid fan base that is obsessed with the simplicity of the site. Learn how to turn simple into genius.
- Things to Do Before You Start Your Start-Up - Many businesses and products can be validated before you sink a dime into product development and start-up costs. Validating your proposed products with your target customers is an effective means to mitigate the risk with your start-up and give you greater confidence as you launch your business.
- 5 Blunders Entrepreneurs Do That Bust Their Own Businesses - Why do small businesses sometimes fail? An atrocious rate of 95 % of start-ups fail within one year. Most often, it is because entrepreneurs do not have a vision for the company. Discussed here are five major reasons.
- Reasons for New Product Success or Failure - We all know of products that have been launched, some amidst much festivity, but have since gone on to become terrible market flops. Similarly, there are new products whose launches have been equally festive or quite low-key but whose market success has been nothing less of stellar. Why do new products fail or succeed and what factors are responsible for this?
Category: Personal Finance