Entrepreneur’s checklist


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The Independent Online

Important questions for budding self-starters to ask themselves, suggested by Dr Malcolm Parry, director of the Surrey Research Park at the University of Surrey.

• Where does your unique expertise lie? What are your skills?

• What initial tests and research have you done?

• What is the problem that this technology/product/service solves?

• Why does it solve the problem better than other options already on the market?

• What is the compelling need for this solution?

• Who are your customers, how many of them are there and how will you reach them?

• What is the proposed price (how have you decided this), and can your technology/product/service actually make money?

• Does the business idea offer a long-term advantage that will stand the test of time and other changes in the market?

“Have a go!” says Parry. “Think of an idea that solves a personal or business problem and test it against the kind of questions that investors will ask.”