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Business Viability Checklist

Convinced your business plan is a sure-fire winner? Maybe so. But even the best ideas have to be fully vetted and justified before they draw investment capital. So, we strongly advise you to review our Business Viability Checklist  to ensure you've got everything covered.

Management Checklist
  1. Do all members of your management team possess the necessary education, skills and experience?
  2. Does each member have clearly defined and delineated roles and responsibilities?
  3. Is the team complete or are you waiting to fill several key positions later?
  4. Has everyone committed full-time to the business? If not, when will they?
Organizational Checklist
  1. Have you identified, sourced and budgeted for all of the operational systems (e,g, accounting, finance, HR, etc.)  you will need need to run the business?
  2. Will you depend upon distributor, reseller, OEM, or other kinds of business partnerships? If so, have you developed a set of "ideal partner profiles" and developed a list of potential targets?
  3. Have you completed a SWOT (Strengths, Weaknesses, Opportunities and Threats) analysis?

Market Readiness Checklist

  1. Have you analyzed all of the relevant market research to prove out your market share and revenue assumptions?
  2. Do you have a comprehensive and detailed plan for building and maintaining market share?
  3. Have you accounted for the key trends driving the market (e.g., consolidation, regulatory pressures).
  4. Have you compared your pricing model to industry norms? Is it competitive?
Sales Readiness Checklist
  1. Have you developed a detailed profile of your target customer and a target list of prospects?
  2. Have you identified all of the stages and of the selling cycle and their duration? Is this fully reflected in your forecast and revenue assumptions?
  3. Will your sales compensation plan  motivate and reward high achievers? Is it competitive with other companies in your space?
Competitor Checklist
  1. Do you have a market entry advantage compared to your potential competitors. For example, do you own technology that other companies would have to develop before they can compete with you?
  2. Have you identified all of your key competitors and how their strengths and weaknesses compare to yours?
  3. Have competitors formed strategic partnerships with companies you're targeting as key suppliers or partners?

Product Readiness Checklist

  1. Do you have a working product or are you still in the  concept stage?
  2. Do you own - or have unfettered access to - the underlying technologies? 
  3. What industry/government certifications/licenses must you acquire before offering the product commercially? Have you developed a plan and budget for this?
  4. Is your product scalable? If so, have you identified all of the associated scaling factors and dependencies (e.g. network throughput, computing power, etc.) and how this will affect your cost structure and margins?.

Finances and Revenue Checklist

  1. Have you created a realistic Balance Sheet, Income Statement and Cash Flow Statement?
  2. Have you identified all of the human capital and operational costs associated with your growth forecast? How will this affect your margins?
  3. Do your financial sheets match up top-down and bottom-up?

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