BUSINESS EVALUATION WORKSHEET
Copyright 1988, Attard Communications
Before you go into a business you should attempt to learn as much
about the business (and yourself!) as possible. This worksheet--if
you actually fill it out and answer all questions honestly --will
help you collect and evaluate essential information about yourself
and the business you would like to start. While it won't give you
all the facts you need to determine if you should pursue your
business idea, it will help you answer some very fundamental
questions and help you identify possible pitfalls.
Are you so determined to go into this business that you
would work long hours without any guarantee of how much
money you'd actually make?. [] YES
.[] NO
Have you ever worked in a business similar to the
one you want to start?. [] YES
.[] NO
Have you ever worked as a foreman or manager for
someone else? [] YES
.[] NO
Have you taken any business courses in school? [] YES
.[] NO
How much money do you have saved? $_______
How much money do you need to start this business? $_______
(see WORKSHEET 2 below)
How much of your own money can you put into this
business $_______
Where will you get the rest of the money you
need to start this business? (list sources and amounts)
__________________________________________________________
__________________________________________________________
__________________________________________________________
How much credit will you be able to get from suppliers
(people you will have to buy goods or services from)?$_______
How much money do you expect to make per year from
this business (salary and profit on investment)? $_______
What is the minimum amount of money you need per
year to meet living expenses? $_______
Have you discussed business loans with a banker
or an accountant? [] YES
.[] NO
Will you need a partner to supply money or
business know-how? [] YES
.[] NO
If you will need a partner, do you know someone who
would be appropriate and with whom you are sure you
could get along? [] YES
.[] NO
Have you investigated the pros and cons of working on
your own (sole proprietor), with a partner, or as a
coporation? [] YES
.[] NO
Have you discussed your plans with a lawyer? [] YES
.[] NO
Are most businesses in your community doing well? [] YES
.[] NO
Are other businesses like the one you want to start
doing well in your area? [] YES
.[] NO
Are other businesses like the one you want to start
doing well in the rest of the country? [] YES
.[] NO
List the kinds of businesses or consumers who would
to buy what you are planning to sell.
_________________________________________________________
_________________________________________________________
_________________________________________________________
In what geographic areas are those kinds of businesses and/or
consumers located? _______________________________________
__________________________________________________________
How will you get your products or services to them, or how
will they (customers) get to you?_________________________
__________________________________________________________
List the businesses that would be your competitors:
__________________________________________________________
__________________________________________________________
__________________________________________________________
Is there really a need another business like the one you
are planning to start? [] YES
.[] NO
How will you advertise your business?
___________________________________________________________
___________________________________________________________
___________________________________________________________
Who will prepare your ads?_________________________________
Where can you get help with your ads?______________________
How do other businesses like the one you are considering
get customers?_____________________________________________
___________________________________________________________
Do you know how to price the products or services you
plan to sell? [] YES
.[] NO
Do you know what other businesses are charging
for products and services like those you plan to
sell? [] YES
.[] NO
What have you done to find out what your potential
customers really want to buy?_________________________________
______________________________________________________________
_______________________________________________________________
If you will be selling products, do you have a system devised
for tracking inventory and determining when to reorder? [] YES
.[] NO
Where will you get your stock if you are selling a product?
__________________________________________________________________
Who will actually do the selling? You, or
a salesperson?_______________________________________________
Do you have any sales training, or have you studied books on
salesmanship? ________________________________________________
Do you like selling? [] YES
.[] NO
Where will you find employees if you need them?__________________
_________________________________________________________________
Are other businesses in you area having difficulty finding
qualified help? [] YES
.[] NO
What salary will you have to pay to get reliable help? $_______
How will you train your employees?_________________________________
___________________________________________________________________
Do you know how long it normally takes to get paid in
your line of business? [] YES
.[] NO
Will you accept credit cards? [] YES
.[] NO
Have you investigated the requirements of credit card
companies and the benefits and drawbacks of accepting
credit cards? [] YES
.[] NO
Could you make more money working for someone else? [] YES
[] NO
Are you sure you will have the support of your family? [] YES
[] NO
Do you read trade journals or other sources of
information about new ideas and products in your field? [] YES
[] NO
Have you investigated how the Small Business Administration
might be able to assist you with formulating and
implementing your plans? [] YES
.[] NO
________________________
Copyright 1988 Attard Communications
This article is intended for your own personal use
and may not be reproduced in print, electronically,
or by any other means without the express written
permission of the author.
For reprint or other information, contact:
Janet Attard
Attard Communications
Box 223 Centereach, NY 11720
(516) 467-6826
GEnie mail address: J.Attard
