Through all the reading and the researching, it all states the same stuff, “evaluating is very important!” You know, you have to evaluate in order to decide if your idea is worth pursuing. Think about it for a second, everything we do in life, no matter how big or small, we evaluate it. Now, we may evaluate some things longer than others, but even if it is for a split Nano second, you have evaluated it. Whatever you are evaluating, you are thinking the advantages, the disadvantages, the risk factors, problem solving (if things should not go as expected), limitations and so on. There are so many things that just go through your mind at that time, due to experience (trained thought). Well, everything that you do for the most part is what you are doing when you are evaluating your business ideas. Of course, it is so much more serious then deciding on whether or not to take out the trash or not. There is much more involved such as: is your product needed; do you have the finances; what are some of your short-range and long-range benefits for opening the business and so on. The first link that I put down out the bottom is a nice “Idea Evaluation Checklist” that I had stumbled upon. Just thought I put it down there for me, and anyone else interested.
Also, some of the key components to a business plan are: executive summary; company overview; business environment; company description; company strategy; financial (review); and your action plan. (Peterson, Jaret, and Schenck, 2012)
Entrepreneur. (2012). Idea Evaluation Checklist. Entrepreneur Media, Inc. http://www.entrepreneur.com/article/81940
Entrepreneur. (2012). Elements of a Business Plan. Entrepreneur Media, Inc. http://www.entrepreneur.com/article/38308
Find Law. (2012). Evaluating Your New Small Business Idea. Find Law.com. http://smallbusiness.findlaw.com/starting-business/starting-business-overview/starting-business-overview-evaluating-idea.html
Peterson, S.D., Jaret, P.E. and...