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By answering the following 11 basic questions you will gain a better understanding of your concept’s strengths and weaknesses.
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All results above 80% are great strengths of the business idea.
All results above 50% are strong enough aspects of the business to drive the business forward to success.
Any results scoring below 50% are business areas that are weak and you should rethink those and/or change the team or the business concept in order to improve its score.
If your idea scores less than 50% in more than 2 categories it needs to be reviewed to improve the scores of those categories or else get a better business idea and try again.
How expensive is your idea to start up?
How long will it take you to break even?
How difficult is the design or business-concept development of your idea?
How much effort is involved in the manufacturing of your idea?
How simple is your product or service?
How novel is your product?
What is the future potential of your product?
How much knowledge do you have on the industry involved?
How driven, and committed are you to your idea?
How potentially complex is your idea to manufacture?
What is the shelf life of your product?
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