9 Factors for Evaluating Business Ideas and Opportunities
Below are some factors to consider when deciding what to pursue given short-term and longer-term goals.
Relationships. Having existing relationships with necessary customers, partners, hires, investors, etc. can be save a lot of time, reduce costs, and reduce risk. Without existing relationships the team will have to form them, which takes time and there is risk in being able to form them at all. For example, if you don’t know how to code, and you’ll need a technical co-founder for the business, and you don’t know any, that’s one more roadblock to getting your business off the ground. Which doesn’t mean you shouldn’t do it, it’s just important to consider how many roadblocks you’re going to have before you go down the path.
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