Assessments

S corporation, C corporation, Limited Partnership, or LLC--choosing a business entity structure can be daunting and a bit overwhelming.

The Incorporation Wizard is an online tool that helps you evaluate business forms based on your specific business needs.

As you answer business-related questions across six categories, the Wizard ranks each entity type based on how well each may align your requirements. 

Want to find out which business type might be right for you? Visit the: Incorporation Wizard.

This short quiz of 26 questions. You to assign a value to each so you can evaluate business feasibility quiz. Don't rely on the roll of dice to start a business, use a logical assessment. The questions are grouped to cover your product or service feasibility, market feasibility and financial feasibility. 

Each of 26 questions are assigned a value from 1 to 5 as you assess your business concepts feasibility. The minimum number of points is thus 26 and the maximum 130.  If you do not know an answer to a question, the checklist would suggest you do some more research before committing to your business venture. It is not fool proof. But it helps you think.

U.S. Census Data

The West Michigan Shoreline Regional Development Commission (WMSRDC) is a federal and state designated regional planning and development agency. WMSRDC operates programs in economic development, transportation, homeland security, environmental planning, community development, information and communications, and others.

A business model describes the rationale of how an organization creates, delivers and captures value.

Review the 9 building blocks of the business model.

The 9 Building Blocks:

Use our personalized 2-minute small business assessment tool for new and growing small business owners. It will give you recommendations and resources for small business success.

 

Self-Assessment

Ask yourself:

1.      How does cash flow into and out of my company throughout the year?

2.      Are we able to meet our current financial obligations and goals, and can we accommodate future changes without exceeding our budget?

3.      With a reasonable degree of accuracy, what will our funds balance be at the end of this month? Mid-way through the fiscal year? At the end of the year?

4.      What is our "cash plan" for the coming month, quarter or year?

 

 Self-Assessment

Ask yourself:

Can You Afford To Start Your Own Business?

Can You Afford To Start Your Own Business?

Screening test for startup

Screening test for startup

Try this self test and see if you have the "right stuff" to be a business owner! 

Experts may disagree about the exact mix of traits that identify successful entrepreneurs, but they agree that a person should consider carefully and honestly whether they have the emotional,financial and commitment resources they need before starting on the journey to success in the business world.

 

This article contains links to a number of websites and sources of further reading that may help you gain insight into your readiness to start a business.

 

 

TEST YOUR POTENTIAL TO BE AN ENTREPRENEUR

 

 

 

Do you have what it takes to be successful running your own business?

 

Experts may disagree about the exact mix of traits that identify successful entrepreneurs, but they agree that a person should consider carefully and honestly whether they have the emotional,financial and commitment resources they need before starting on the journey to success in the business world.

Syndicate content