Before moving forward with any business venture, you should ask yourself the following five (5) questions . . .

  1. Question 1: Problem or Need?

    Are you solving a problem or meeting a compelling need? Do you delight your customers? Why will customers buy what you are selling?

  2. Question 2: Resources

    What are the Companies Capabilities and Skills Of the Management Team? Of the Board? Of the Company's Network? What type of know-how does the Company have? What types of assets does the Company have, i.e. financial and unique?

  3. Question 3: Value Proposition

    What are the compelling benefits of the product? What is the value of the product itself? How does this translate into value for the target customer?

  4. Question 4: Differentiation

    How does your Company differentiate from Competitors? Why do customers care? How do you sustain your competitive advantage?

  5. Question 5: Profitability

    What are the economics of your business, i.e. financial model? What is your pricing model (Avoid low-price thinking!)?

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