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How to value a Business Idea

Knowing how to identify your business idea based on what you most like to do or know how to do offers a great chance of success when starting a business. It is said that there are many opportunities to identify a business idea, but sometimes there is no opportunity but a clear need.

It is not enough to identify the business idea, it is very important to be able to assess in order to know how viable that idea is in the market. I am telling you all this because I have come up with an idea regarding innovation with new products and the location of a new point or branch with a family business. of using the business we already have but there is something that prevents me from taking action, the fear of failure. That same you will also have felt when starting a business.

For this reason, I have wanted to evaluate the situation well and although it is not a new idea, it is as if it were because of the financial risks that innovation implies not so much but to open a new market in another place as is the plan that I have proposed.

This is how I started to investigate how to evaluate a business idea and I found on the Internet a tool to evaluate business ideas called Test-idea in the following link:

How to value a Business Idea So I got down to work to find out how much this tool could help me. Completing the test requires about thirty minutes, answering questions related to the entrepreneur’s field, origin of the idea, impulse of the idea and the market and something good about the tool is that a feedback booklet is being completed on the left side of the test according to each question answered.

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This is a simple tool to use but surprising because at the end of the test it presents a SWOT matrix in four main sections: Opportunities, Threats, Strengths and Weaknesses, which you can print to become your action plan.

To complete it, it also presents a graphical system or EQUALIZER in which it shows the percentage of the points added over the total. The objective of this  Haiti Email Address is to show an approximation of the level of maturity and viability of the business idea. Showing the weighted result for the Entrepreneur, The Idea and the Market.

It seems to me a spectacular tool, I printed the SWOT matrix which I will use as a tool to carry out my idea of ​​innovation and growth for my business.

If you are an entrepreneur, employed or unemployed, and you have a business idea, I recommend that you use this tool that technology offers today so to  Buy Leads the basket googlo it; You will be able to discover if in another store the price is lower  that you can know how viable your project is and you can achieve success.

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