Show me the Money!!Written by Skip Shuda
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group of people ( 2 points) 2.My product or service will be in great demand in the future in order to solve problems emerging from a new trend that has a large population of prospects ( 2 points) 3.My product or service takes advantage of newly available market forces (technology, demographics, societal). The result is an offering that will clearly appeal to an existing, well-known market demographic ( 1 point) Your score (0-5) is your Total Perceived Pain Score. If you scored three or more, you pass the Perceived Pain Hurdle. PRODUCT ECO-SYSTEM Score the stated number of points for each item you can answer positively. 1.My product is unique in a clearly defined (i.e. I can describe the difference in one or two clear sentences) and useful way ( 1 point) 2.My product is patented or can easily be patented or I have another competitive barrier (e.g. trade secret, unique manufacturing process, etc.) that will make it difficult for others to compete directly ( 1 point) 3.My marketplace is well established but fragmented or my product has “category killer” potential because it is so unique to the market ( 1 point) 4.My marketplace is either very big (> $5 billion/year in sales) with clear room for a product like mine or is rapidly growing with well documented trend lines ( 1 point) 5.My marketplace is wide open and there are no competitors ( subtract 1 point) Your score of (-1 to 4) is your Total Product Eco-System Score. If you scored three or more, you pass the Product Eco-System Hurdle. Now that you have completed the scoring, we shall take a look at how “fundable” your company is. Before we do, it’s important to realize that this is a snapshot in time. If you are not satisfied with your score, there are plenty of things you can do to improve it. I’ve seen many of my clients make tremendous progress along these dimensions by extending their team, focusing on sales or tweaking their offering. YOUR FUNDABILITY RATING: Number of Hurdles Cleared: None IMPLICATION If you received this score and hope to receive funding, then you have a lot of work to do. Perhaps you just know you want to start a business and are looking for ideas. If so, keep these criteria in mind as you formulate your plans. If you already have a business concept, you should think long and hard about “re-conceiving” some elements of it to improve your scores. Many perfectly good “lifestyle” businesses may fall into this scale – you just can’t get funding for them. Number of Hurdles Cleared: One IMPLICATION Funding from your rich uncle may be possible Number of Hurdles Cleared: two IMPLICATION Funding from family and friends network may be possible Number of Hurdles Cleared: three IMPLICATION Professional investors will consider this, but you’ll need to be prepared to explain how you’ll address your gaps. Number of Hurdles Cleared: all four IMPLICATION Put the finishing touches on your business plan and hit the funding trail! You will have the best chances of success in fund-raising if investors see that you can clear the hurdles in all four areas. NOTE: Team and a Dream offers a professional version of this assessment that offers additional detail and examines nuances that aren’t possible to convey in a simple quiz. If you have an interest in the professional assessment, please visit us at http://www.teamandadream.com/contactus.htm Contact Information: http://www.teamandadream.com skip@teamandadream.com (610) 687-9195 Copyright (c) 2005, All rights reserved by Post Destiny, Inc. d/b/a Team and a Dream(SM)
As an advisor-builder with a sense of adventure, founder Skip Shuda has worked with numerous startups since 1983, including Destiny WebSolutions, which he founded in 1994. Destiny was named Startup Company of the year in 1998's Philadelphia Area Enterprise Awards. Destiny grew to $25 million in annualized revenues in 2000 and employed over 120 people.
| | So You Want To Start A Home Based BusinessWritten by Paul Jesse
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Do not restrict what you do based on self-imposed doubt and lack of confidence. If you have an idea to start your own home-based business and are truly ready to take that step towards making your dreams a reality, then develop your plan and implement it. It takes self-discipline to plan your business and your life then work towards turning your ideas into steady cash. Make informed decisions and give your home-based business time and energy it takes to build wealth. Distinguish yourself from competition and you will be on your way to financial independence. It is common for those starting an Internet or other home-based business to feel as if they are getting nowhere fast. Patience, discipline, and old-fashioned hard work are key in creating a constant cash flow. If you have motivation and discipline it takes, you can operate your own successful home-based business, generate income you need, and enjoy freedom of being your own boss. Copyright © 2005 Paul Jesse
Paul Jesse is a retired government employee and the author of several articles on working from home. Visit his website at: http://www.sheamarketing.com
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