Checking the fit of Your Business Ideas Before Starting A Business In Nigeria.

Checking the fit of the business idea...

So have you gotten a business idea that you think could be worth starting a business with?

If no, try and brainstorm a few... keeping in mind that...

A mediocre idea that generates enthusiasm will go farther than a great idea that inspires no one.
Mary Kay Ash

Lets take some time to do a simple exercise that can help you decide what type of business idea is a good match with your abilities.

Ready?... wonderful!

Now

Take a sheet of paper and draw up two columns or if you prefer, you could use a word document right on your computer.

In the left hand column , which you could label as interest/skills, list all your hobbies, interest , and skills.

In the right hand column, which you could label as ideas, translate those interest into possible home business ideas.

Here is a sample...

This is how to do it...

Take some of those businesses you want to start; you rank those businesses according to how closely they match what you want from starting a business.

But before doing that, go through the standard you want your business to meet and assign a range between 1 and 5 to each, with 1 being not important at all to 5 being absolutely must have.

Confused? Please don’t be...

Here is a table that illustrates how this could be done.

Chioma isn’t in a position to raise much capital, she wants to work from home and she wants her hours to coincide with those of her children. She really wants to enjoy what she does.

Since minimal capital was an important criteria for Chioma she gave it a weight of 5, whereas meeting important people, being less important to her, was weighted only 1.

Chioma gave her 3 business ideas a rating against these criteria. The rating factor and the rating point gave a score for each business idea. The highest score indicates the score that best meets Chioma’s criteria.

So which of your business ideas have turned out to be the best fit for you after checking the fit?

Remember checking the fit of your business and go forward only with an idea that best fits you.

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