Jeff Cornwall of the Center for Entrepreneurship at Belmont University has identified 3 simple, and absolutely right-on, considerations when you’re starting a business:
- The market
- The margin
- The “me”
As obvious as these seem to be, it is amazing how many new entrepreneurs give one or more of these guidelines less than adequate attention. I urge you to read his post in full and review your own business plan to see if you’re really considering these important points. Cornwall says that evaluating your business in light of these points “can weed out those that are doomed to fail from those that have a good chance of success”.
Hat tip to Dane at Business Opportunities Weblog.