BUSINESS SELECTION WORKSHEET

. The following worksheet will help you choose the business that’s right for you. It’s important that you take the time to evaluate all aspects very deeply. To fill it out, follow these three steps:


1. First, list the business ideas you’re considering by order of interest. In the top left-hand blank space put the idea you think you’re most interested in. Underneath it put the next idea and so forth.

2. Then, take each idea and rate it in each of the areas. Use the following rating system:

Rating 0 - none
1 - below average
2 - average
3 - above average

3. Finally, total up the numbers. Here are some tips for making sense of the numbers and for narrowing your list of business possibilities:

 eliminate any of your ideas that scored less than a total of 10
 eliminate any idea that did not score at least a 2 in every category
 eliminate any idea that did not score at least a 3 in the uniqueness category


How many ideas are left? If the answer is “none,” then you need to use to identify where you need to improve and you need to develop a strategy for raising the “1’s” to “2’s” or “3’s.” If the answer is “more than one,” you have a pleasant dilemma. If the answer is “one,” you may have just found the business that’s perfect for you.


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?

Rating: 0 - No knowledge of the business
1 - Some indirect knowledge of the business
2 - Limited knowledge
3 - Working knowledge


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 worked in this type of business before? To what extent is experience crucial to the business?

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BUSINESS SELECTION WORKSHEET