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This calculator is designed
to help you choose the business that's right for you.
To fill it out, follow these three steps:
List the business ideas you're considering by order
of interest.
For each idea, select the most appropriate response
for each of the categories listed.
Here's a look at each of the categories and some of
the things you should consider when rating them:
Your knowledge of the business.
How much do you know about the area?
Will you have to spend extra time and money teaching
yourself the business?
Will you have to take on a partner because you don't
know the business well enough?
Your experience in the field.
In some cases, you may have a lot of knowledge about
the subject, but not much experience.
Have you ever owned or worked in this type of business
before?
To what extent is hands-on experience crucial to the
business?
Your skills.
Ignore, for now those skills that might be common to
each of your ideas, and try to concentrate on sills
that are unique to that business.
To what extent do you possess those skills?
If you lack them, how difficult will it be to acquire
them?
Ease of entry.
Think both of the costs of entering the business and
of the competitive barriers that might exist. For example
a service business that you can run from your home might
be relatively inexpensive to start, but if several others
are already providing that service, entry in the field
may be difficult.
Uniqueness.
Uniqueness does not necessarily mean that literally
no one else is providing the same product or service;
it can mean that no one else is providing the product
or service in the same way you intend to provide it,
or it can mean that no one else is providing that product
or service in your area. You're looking for some way
to distinguish your product or service from others who
are already in business. |
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| Important: The results from this calculator should be used as a guide only, and it is strongly advised that you should consult an experienced or qualified accountant or financial/business adviser before making any decisions.
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