Choosing the best idea for YOU

Perhaps you have no trouble dreaming up new ideas for a business. Instead, your challenge is

deciding which one to pursue. Unlike the SWOT analysis or feasibility study, no established test

determines which of your many pursuits is best suited for you. This decision is much more subjec-

tive and personal. However, you can ask yourself a few questions to get guidance. For each of the

following questions, choose the answer that best reflects how you feel. Total the points to show

your numerical score. Take this quiz for every business idea you have on your plate. Don’t forget

to compare your final scores.

Neutral or none Not much Somewhat Very much

(0 points) (1 point) (2 points) (3 points)

 ✓ Does this idea interest you?

 ✓ Does this product or service excite you?

 ✓ Do you have experience with this product or service?

 ✓ Does it require a large investment?

 ✓ Do you have money readily available to fund the concept?

 ✓ Will starting this business require you to alter your lifestyle?

 ✓ Are you willing to change your lifestyle for this idea?

 ✓ Does this business reflect your personal goals?

 ✓ Does this idea reflect your professional goals?

 ✓ Can you imagine owning this same business in ten years?

 ✓ Did your idea pass your feasibility test?