Business Idea Assessment Process
Every entrepreneur should conduct a detailed feasibility assessment or study to test if the business they have in mind makes a personal Sense, Business Sense, Market Sense, and Financial Sense.
Without looking at the personal aspect, business concept, the market, and the financials, as well as analyzing the data and information, an entrepreneur is likely not to be successful or not as successful as s/he would like to be.
Without evaluating and planning for the business, the entrepreneur would have a difficult if not impossible time convincing others to invest in their idea.
After conducting thorough research and evaluating the information as well as data, if it is determined that the business idea appears to make good personal, business, market, and financial sense at that moment in time, the entrepreneur may continue forward to write a business planning.