Sunday, March 10, 2013

The 2-Minute Opportunity Checklist for Entrepreneurs - Daniel Isenberg

  • Does your business idea soothe someone's pain, discomfort, frustration, or dissatisfaction?
  • Are there lots of those people out there?
  • Do these people (or companies, or governments) have money to pay for it?
  • Will they be able to decide quickly to buy your product or service?
  • Does your idea exploit something about you that is outstanding or unique?
  • Are there important assets you have that no one else has? (money, access to customers, technology, leadership skills, execution, location, salesmanship, etc.)
  • Can you think of at least two people who might join you?
  • Do their skills complement yours?
  • Do they have the same values as you do?
  • Do the majority of people whose opinion you highly respect think your idea is a good one?
  • Does at least one person (and not more than three people), whose opinion you highly respect, think your idea is a bad one?
  • Is there something about the idea or its implementation, that compels you to really devote yourself to it?
  • Can you sneak by the big competitors without them noticing you for awhile?
  • Can you find a potential customer who will take your calls, give you feedback, try a pilot out?
  • Can you start up without huge gobs of money?
  • Can you keep your fixed costs low during launch?
  • Does your idea lend itself to small incremental steps that can inexpensively generate valuable information as well as at least a little cash?
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