Don’t miss the B.O.T.E.
There’s a lot to be said for a simple “back of the envelope” (BOTE) calculation. Done properly, it helps you quickly assess new venture ideas and explore alternative business models.
For example, if you see an opportunity in widgets, there are many ways of going after it. You could sell widgets direct to customers; sell widgets [...]
Posted at 12:44 am on November 28, 2009 | leave a comment | Filed Under: Business Plans, Strategy | Tagged: assessing a business model, back of the envelope calculation, back-of-the-envelope, business model, comparing business models | read on
Is your idea worth pursuing?
There’s a big difference between an idea and a business. Here are a few quick thoughts on how to evaluate whether your idea is worth pursuing as a business opportunity:
1. Is there a compelling need? Do people really need the solution you are proposing? Or is it just a ‘nice to have’, something they might [...]
Posted at 5:55 am on October 19, 2009 | leave a comment | Filed Under: Uncategorized | Tagged: concept, entrepreneurial idea, evaluating ideas, idea, startup | read on
