7. Risk Evaluation – SWOT Analysis
• Outline Strengths and Weaknesses of the business and yourself.
• How can any known weaknesses be overcome?
• What opportunities exist and how can they be exploited?
• What are the threats, including the competition, and how can they
be overcome or mitigated?
10. Write a Business Plan ???
WHY:
• Makes you think through the idea in some depth!
• It is a test to see if your idea will stand up to scrutiny!
• Usually essential if you want to borrow money !
• Provides an ongoing reference point for when you are in business!