Determine the Potential of your Idea
Are you considering starting a business? If so, there are a number of things to consider and the SRSU SBDC Network can help you organize your thoughts and vision into a viable plan. We can help you transform your idea into a reality.
Consider the following as you begin mapping your idea:
1. The Idea
- What is your idea?
- What product or service will you offer?
- Will you build your business from scratch, or do you plan on buying an existing business?
2. Is It Feasible?
- Do you have the skills and expertise needed to be successful?
- What are the monetary resources needed to start?
- Have you thought of a plan for financing the business?
- What are your own strengths you can bring into the business? What are your weaknesses or challenges?
3. Who’s Your Market?
- What is your market?
- Who is your competition and what are their strengths and weaknesses?
- What is your competitive advantage?
If you have determined that your idea could make money – now consider:
- What is your market and how will you reach your potential customers?
- How will you manage and operate your business?
- How will you fund your business venture?
- Do you have a plan?
Our experienced business advisors within the SRSU SBDC Network can assist you in answering these questions and pose questions you may not have considered.