Will It Fly? How to Know if Your New Business Idea Has Wings...Before You Take the Leap
Thomas K. McKnight
Will your new business idea fly? Find out upfront, before you invest one dime! Will It Fly? introduces the first intuitive, practical tool for assessing and refining new business ideas. Fast, confidential, and reliable, it addresses 44 key elements of success, distilling experience from more than 200 business launches. Use it to fine-tune your idea... protect yourself and your investors... quickly evaluate multiple options... and dramatically improve your odds of success. Indispensable for every entrepreneur, investor, and advisor... even corporate planners and "intrapreneurs"!
can't be in the passing range, although it should be positive. I am awarding it a 5. Elevating this score will involve working carefully with the manufacturer to understand their hard numbers for demand. It would also be prudent to understand the nature of damages done to clothing by routine cleaning services. These will all allow a higher score to be awarded. Element 9, Quality of Evidence of Demand score summary: Weight 2 × Score 5 = Total 10 Element 10 Ahead of the Market Nothing
—John Maynard Keynes, The General Theory of Employment, Interest and Money, 1936. Definition In contrast to the previous element, which relates to the total capital requirement, Low Cash Required Before Launch is limited to what happens prior to launch. It is often related to accumulating resources and knocking down risks prior to the commitment of launch capital and the follow through. Low prelaunch cash required is possible if during the prelaunch period, when a low level of capital
deep into the psyche of the consuming public and it is probably not a good idea to attempt to overcome them with your will and the investor's money. While it certainly could be possible to overcome many taboos with a PR campaign, my experience is that many of these problems are just too big to tackle for a new little company. Sometimes Mrs. Reagan had the right answer: "Just say no."2 Today, now, when nothing has been cast into stone, make the adjustment to avoid any taboos. 2. This was the
thwart it. 5. Another problem can involve the mistaken belief that a market exists when it does not. Cues include an inability to identify any customer who would buy the products. One example involved a group from Tennessee that in 2001 was attempting to market the intellectual DNA of the architectural drawings of a famous and now-deceased architect. They had a wonderful vision and they were quite passionate about it. However, there was no product evident for which demand could have been
elements ambushers (competition) compelling unserved needs competition customers demonstrable concepts explainable uniqueness hot markets market timing pricing quality of evidence of demand sustainable differentiation financing elements capital requirements cash requirements visible capital harvest elements foreseeable harvest high potential value negative elements pretending not to know showstoppers taboo operation elements available resources backup plans breaching the