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Mr Business Teacher

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Submitted By michael12345678
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1. How is it different?? Are you filling a gap in the market, or building on an existing offering? 2. Is there a market, and is it big enough? 3. Is the price right? 4. What will stop others from copying you? 5. Do you know your customer? 6. Can you turn a profit? How much will it cost to produce your idea? How much can you sell your product or service for, and how much do you need to sell to not only cover your costs, but make a profit? Is this achievable? 7. Do you have sufficient funding to get the venture off the ground? You need enough cash to support yourself and your business until it becomes sustainable. If you don’t have the funding in place, can you raise it? 8. Do you have the necessary experience, attitude and skills to pull it off? Even if you have the best idea in the world, without the passion, drive and commitment to see it through, it still stands a good chance of failing. 9. Is there scope for growth? Can you expand on your idea in the future by adding new products or services, entering new locations, or improving your original proposition? 10. How much are you going to be asking for £ and what stake do I get in the business? 11. What are your projected targets in 3 years’ time? 12. What is your net profit going to be for the 1st year? 13. How quickly will I get my investment

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