If you want to start a business, you'll need to think carefully about your business idea. Is it a great idea that could turn into a major brand or will it fall flat at the start line? The team at MOO.COM have created this interactive flowchart to put your business idea to the test!
Do you have the passion and determination to see it through?
Do you have the required skills, knowledge and experience?
Do you have a goal for your business?
Do you know who your customers are?
Will people pay for this, either now, or in the future?
Have you spoken to everyone and anyone about this?
Have you tried it out on customers in a trial run?
Can you describe your customers' need for this?
Do you have a 25 word sales pitch?
Do you have a business plan?
Have you thought about what resources you will need?
Is it different to similar products or ideas?
Do you know the drawbacks and limitations?
Are you aware of infringement and legal implications?
Is your business sustainable?
Is there room for your business to grow?
Do you know your market?
Have you worked in this industry before?
Do you have industry contacts?
Do you know how to price it, promote it and sell it?
Do you know where your money is coming from?
Do you have a budget?
Have you been realistic about your budget?
Do know your expenditures and overheads?
Can you afford to keep your business running?
Do you know when you'll break-even, and how much you need?
Could you accept failure, and know when to quit?
Awesome! Sounds like you have a great business idea!