Does Your Business Idea Suck?

20 Questions
Business Quizzes & Trivia

Get started instantly by entering your name below. Total est time: 5 minutes Total possible points: 85 points When you are finished with the test, see the guide below.

Sample Question

Am I passionate about this idea or concept?

Extremely passionate, I think about this every day

Pretty excited, this is something I enjoy

Sort of, I just know this is an issue for people

Not really, but I think it's got potential

Number of Questions:

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Questions and Answers
  • 1. 
    Am I passionate about this idea or concept?
    • A. 

      Extremely passionate, I think about this every day

    • B. 

      Pretty excited, this is something I enjoy

    • C. 

      Sort of, I just know this is an issue for people

    • D. 

      Not really, but I think it's got potential

  • 2. 
    Does this idea solve other people's needs or problems?
    • A. 

      Definitely

    • B. 

      Some people's problems, yes

    • C. 

      Only a few specific people

    • D. 

      Not really

  • 3. 
    Do I have an easy way to reach people who could use my product or service?
    • A. 

      Yes, I know this space and have several ideas for connecting to the customers who need this

    • B. 

      Probably, I've got a few ideas for how to reach potential customers

    • C. 

      I think so, but I haven't planned it out yet

    • D. 

      I'm not sure

  • 4. 
    Do I have a target audience?
    • A. 

      Yes, I have a specific target audience in mind

    • B. 

      Not really, anyone can use my product

  • 5. 
    Do I have mentors in this industry or space who have done something similar and are willing to coach me?
    • A. 

      Yes, several people

    • B. 

      I know one or two

    • C. 

      Not yet

  • 6. 
    Am I willing to commit the next 5-10 years of my life to this one idea?
    • A. 

      Yes, definitely. Whatever it takes.

    • B. 

      Probably, as long as things are going well.

    • C. 

      Maybe... I'm not sure yet.

    • D. 

      I don't think so.

  • 7. 
    Are you experienced with any of these?
    • A. 

      Market research

    • B. 

      Creating a website

    • C. 

      SEM

    • D. 

      Social media marketing

    • E. 

      Accounting and finance (or software like QuickBooks)

    • F. 

      Managing people

    • G. 

      Sales

    • H. 

      Local advertising or marketing

  • 8. 
    Do I have the background for this business? Select all that apply:
    • A. 

      I have one or several directly-related skills in this specific area

    • B. 

      I have an educational background, a degree or certification in this space

    • C. 

      I have connections in this this industry

    • D. 

      I have professional experience working in a business like this

  • 9. 
    Can I execute this idea in a unique and better way than my competitors?
    • A. 

      Yes, I have a concrete way of differentiating or being more efficient

    • B. 

      I think so, mine will be more unique/interesting

    • C. 

      I'm not sure yet

  • 10. 
    How complex is this business idea? If I quit my job today and just focus on this business...
    • A. 

      It could be up and off the ground in a week

    • B. 

      It would take about a month to be operational

    • C. 

      It would take about 90 days to be operational

    • D. 

      It would take at least 6 months to be operational

    • E. 

      I'm not sure how long it would take

  • 11. 
    I have always liked taking risks:
    • A. 

      True

    • B. 

      False

  • 12. 
    Do I have enough money to build a basic version of this business without financial help?
    • A. 

      Yes, I have enough to get a basic version off the ground

    • B. 

      No, I will need to get a business loan or investors

    • C. 

      Maybe, if I can borrow some money from family and friends

    • D. 

      I don't know, I haven't figured out how much it will cost yet

  • 13. 
    If I set the cost of the business aside, do I have enough money to pay the bills and make ends meet for...
    • A. 

      1 month

    • B. 

      2 months

    • C. 

      3 months

    • D. 

      6 months

    • E. 

      1 year+

  • 14. 
    Are there already customers buying a product or service like this?
    • A. 

      Yes, quite a few

    • B. 

      There are some, within a specific niche

    • C. 

      No, the idea doesn't exist yet

    • D. 

      I'm not sure

  • 15. 
    Have I researched competitor prices? How much will I charge in relation to them?
    • A. 

      I've done research, but haven't decided how to price my product

    • B. 

      Not sure, I haven't done any price research yet

    • C. 

      I will price my product cheaper, without compromising quality. I have budgeted how to do this.

    • D. 

      I will price my product higher to meet our costs, but the quality or value will also be higher.

    • E. 

      The price will be similar or the same.

  • 16. 
    Have you conducted market research or a competitive analysis?
    • A. 

      What are those?

    • B. 

      Yes, both

    • C. 

      I think so...

  • 17. 
    Have you researched any licenses, permits and insurance required to start this business?
    • A. 

      Not yet

    • B. 

      A little bit

    • C. 

      Yes, I know exactly what is required on the state, local and federal level

  • 18. 
    Is this business idea seasonal?
    • A. 

      Yes, it will be more popular during specific seasons, events or holidays

    • B. 

      No, it will be equally as popular year-round

    • C. 

      I'm not sure

  • 19. 
    Do I need help from others to build this business?
    • A. 

      Yes, and I've already asked people who are interested in joining

    • B. 

      Yes, but I haven't shared my idea or asked anyone yet

    • C. 

      No, I can build it by myself

    • D. 

      I'm not sure

  • 20. 
    Why am I starting a business?