Criteria for Evaluating Business Opportunities

The following tool provides a quick indication of market potential for your business, product or service in your area. The higher figure at Step 6., better opportunity.

A low score does not mean you should drop your idea altogether. It does, however, indicate that in its current form, there is not a large market opportunity for your concept, and to enter market in its present state you may be taking a large risk.

Likewise, a high score is not an automatic green light. Proceed with caution – check your operational and financial feasibility as well. Get second and third opinions before proceeding.

BEST WISHES WITH YOUR ENDEAVOURS!

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QUICK MARKET EVALUATION

1. Are you selling to individuals, households or businesses?

2. What is population of these customers in your target geographical location?

3. How much, in an average year, do customers spend on your product/service?

4. Find total potential sales for region by mulitplying (2) x (3).

that have same objective. You can trade leads,

share marketing info, sell package deals, etc.

2. Brand your name and business. You can easily

do this by just writing articles and submitting them

to e-zines or web sites for republishing.

3. Start an auction on your web site. The type of

auction could be related to theme of your site.

You'll draw traffic from auctioneers and bidders.

4. Remember to take a little time out of your day

or week to brainstorm. New ideas are usually the

difference between success and failure.

5. Model other successful business or people. I'm

not saying out right copy them, but practice some

of same habits that have made them succeed.