Thinking about starting a business? Go through the outline below to help you determine if you have a viable product or service. We can help you create a business plan.
New Business Evaluation
- What is your Product?
- What kind of competition do you have?
- Local Market
- Expanded Market
- What demand is there for your product?
- How have you researched your product demand / costs / price?
- What is your Market?
- Is your Market only local or how can you expand your Market?
- Will your intended Market support your business/financial goals?
- How will you measure?
- What is your Business Plan?
- How will you make your product?
- How will you sell your product?
- How will you promote your product?
- How will you distribute your product ?
- How can you work with other businesses to promote/sell your product?
- What is your Financial Plan?
- How will you fund your business?
- How can you estimate income?
- What will be your operating expenses?
- Rent
- Product/manufacturing costs
- Utilities
- Tools/Machinery
- Outsource costs
- Taxes – Payroll / Sales Tax / Real Estate
- How will you track income/expenses?
- Paper
- Computer
- Business Software
- Spreadsheets
- How much product do you need to sell each month to be profitable?
- How will you pay yourself?
- Can you afford to sacrifice pay to fund your business?
- Are you willing to work to create additional income until your new business can pay you?
- When & How will you be profitable?
- What are your estimates based on?