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Universal Restaurant assessing idea (Assessing ideas (An important step in…
Universal Restaurant assessing idea
Assessing ideas
An important step in assessing a business idea is to identify the value proposition of your idea.
It fits with your personal and professional goals.
Take the time to think through your greater vision.
Your idea is viable from a market perspective.
Personal fit
Business choices fit with your personal goals.
Flexibility I need and want is being able to be there at the restaurant the whole business hours.
I want to work and live in Fort Wayne, Indiana and want to open a restaurant here. And I don’t want to travel and I don’t have time to travel around.
Yes, because I my personal vision is to open a restaurant Six days a week, Monday to Saturday and from 9:00am-9:00pm
Talents and skills
Help you decide how easy it will be for you to start your business talent and skills and those required by the business idea.
Even though it will take a lot of effort, learning, and trial/error I might face challenges throughout the experience.
I can overcome any challenges and put together a restaurant with my family.
I have the talent and skills and those required by the business idea.
Risks and rewards
Risk involved in all entrepreneurial ventures you have to assess and accept the risk involved,
Starting a restaurant can be very risky because if you don’t have a lot of customers you’ll lose a lot of money. The more customers you have the more satisfied you feel and your personal growth will grow bigger.
But if you have less customers you’ll be in a financial debts. Each month I should have a goal of how many customers I’m trying to reach than it’ll show me a data of each month showing me if I reach my goals and gain/loses I have.
There’s some risk involved in all entrepreneurial ventures. And the risks depending on the type of business I want to start.