Test Your Business Idea

In this 5-minute small business class online, you will learn how to test your business idea.

Cost: Free
Recommended Pre-Requisite Classes: None
Instructor: Jennifer Croft

Please note: You may have to raise the volume on your computer or phone to be able to clearly hear the video.

Description
In this 5-minute, online class, you’ll learn how to test your business idea, to see whether the idea is good and whether you have the resources to pull it off. You’ll learn how to measure the strength and viability of a business idea from a marketing perspective – who is your target market, which types of marketing will you use, and how much ROI will you get on your marketing. You’ll also find out how to evaluate your business idea from a financial perspective – how much will it cost to start the business, what will the income stream be like, when will you reach breakeven, and will you be able to make the salary you’d like. You’ll get tips for figuring out whether the business will be a good fit for you – if you have the experience and expertise, whether the timing is right, and how much risk is involved.

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Related Classes

Here are other small business classes online that relate to Test Your Business Idea:
How To Write A 1-Page Business Plan
How To Write A Fill-In-The-Blank Business Plan
Intro To Marketing

Worksheets

The following small business worksheets will be helpful for you to use:
1-Page Business Plan
Start-Up Costs
Rank Your Competitors

Next Steps

After taking this class, here are some good next steps you can take:
•Write a 1-page marketing plan for your business idea.
•Crunch some numbers for your business idea – start-up costs, pricing, cost of goods, overhead, and cash flow.
•Interview another business owner who has a business similar to the one you’re thinking of starting.
•Check out your competition.
•Carefully consider how much you’re willing to risk – financially and legally.