Business Concept Questionnaire

The goal of this tool is to ask you questions so that you will be able to determine if this idea will be feasible: both in terms of having a reasonable number of potential customers, and in terms of actually being able to make or deliver it. No answer is wrong as long as it reflects a true statement. If there is a questions for which you are not sure of the answer, flag this and find out the answer before you start to write your business plan.

If you have completed all the questions in the Business Concept Questionnaire, you should be able to answer the following questions:

• Need
  What basic need or desire exists that could be filled by a new product or service?

• Solution
  What is your solution to this need? What benefits will it provide?

• Product or Service
  What is your concept: its features, materials required, technology, etc.

• Customers
  What type of people might buy this product or service?

• Competition
  Who is selling a similar product or service already?