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Questions To Evaluate The Business You are in or Have In Mind

jcheray | Aug 28, 2009 | 0 comments

Awhile back I bought a My Own Business handbook from myownbusiness.org and have been using it to develop my new business venture. In it they ask you to do the following activity to determine if either what you are doing is working or if what you plan to do will work. I am going to share with you my answers on these questions.

Questions To Evaluate The Business You are in or Have In Mind

Is it something I will enjoy doing? Yes
My favorite activities are: writing, research, internet, learning new things, staying active
I like to serve people by:helping them succeed so they can live a better life
Will it serve an expanding need for which there is no close substitute?Yes
Can I be so good at a specialized, targeted need that customers will think there is no close substitute? yes
Can I handle the capital requirements? Yes
Can I learn the business by working for someone else first? yes
Could I operate as a hollow corporation, without a factory and with a minimum number of employees? n/a
Is this a product or service that I can test first? yes
Should I consider a partner who has complementary skills or who could help finance the business? Not at this time, but is something I may do in the future.

As an internet consultant I would already have the equipment needed to do the job which is a PC, an internet connection and a modem so the need for raising capital would not be a concern. Also I believe in going the extra mile for people as I am a visual learner I would show them how to do something as well as tell them as I feel it is better to watch and learn. I mentioned this before but as an individual being the one responsible for all the operations of your business you have to at least have a working knowledge of various aspects of running your business.In saying that I do think that I would serve a need and give specialized services. I answered n/a to the hollow corporation as it is defined as a company that subcontracts manufacturing and packaging. Since I don’t have any manufacturing or packaging needs that is obviously a moot point.