This video covers gauging your own ability objectively.
- No matter how wonderful your idea is,…if you don't know how to do it,…it's not an opportunity.…In the worksheet that we provided you with,…there are a series of questions…that you can go through to explore…whether or not you have the necessary expertise.…First of all, what are the technical abilities…or skills required for this business?…You want to list everything that comes to mind.…Don't forget essential skills like sales,…or web design or legal.…
Second, access yourself on each of these skills…on a scale of zero to 10.…Zero being, you have absolutely no clue how to do it…and 10 being you're a master at it.…Be honest in your assessment.…And this leads us to step three,…which is were any of those skills below seven?…If so, we want to highlight those and bring them out…because there's a potential problem here.…You don't have the capability that you need…in order to make this business work in that skill.…
So it doesn't mean that the idea is dead,…it just means that we're going to need to hire someone…or outsource it.…
- Recognize effective an ineffective starting points for finding new business ideas.
- Differentiate between business ideas with opportunity factors and those without.
- Break down how demand relates to choosing a business idea.
- List some of the resources you should assess before beginning a business.
- Explain what proprietary advantage is and how it can benefit your business.
- Summarize the benefits of creating a micro business plan before you invest money in your idea.