Business Blank Checklist

Save this business checklist or print it and start planning your business ideas effectively.

The question I always ask new entrepreneurs have you done a feasibility check or do you have a business plan? Most are clueless to the two things so let me give you a quick overview.

Seven Steps To Business Startup Feasibility:

Preliminary Analysis: The project scope. First, the business problem/opportunity has to be addressed clearly. We start businesses to solve problems or to address needs. What need are you addressing in your business? Is your business the solution to a problem?

Defining The Scope: The current analysis. Who are the major players? Where are they leaving money on the table? What issues are greatly presented in this industry now. Is it worth fixing? Is it financially feasible? Just some of the questions. You have to look at the current players and do the work.

Market Research: After you’ve looked at the problems you have to remedy them. Are solutions already out there? Can you possibly bridge the gap? What are the requirements to fixing the gap? Have you surveyed enough people?

Financial Assessment: Price? Is it worth it? What’s the cost of this? Will it bring in a great return? Can you get funding for this project if need be? How much of an investment into it is worth it?

Roadblocks and Alternative Solutions: The approach, how will you approach the solution and alert the consumer or the business to the problem? What roadblocks do you foresee? Do you have a back up execution plan?

Reassessment: Evaluation, is it really worth it? You’ve laid all of your ducks in a row and it’s still feasible then go for it! If not stop you’ve just save yourself thousands and burnout.

Decision: Review all of your notes and rather you move forward or not keep the reports together. Businesses change and needs change daily. What doesn’t work now in 2022 could possibly my work in 2024.

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