Idea 88: Ten questions for entrepreneurs
We must obey the greatest law of change. It is the most powerful law of nature.
Edmund Burke, Irish statesman and author
Creative thinking is fun, and it can also lead to the development of some interesting new products and services. Wearing the hat of an entrepreneur, should you invest your own money in any given proposal?
1. Is it really new?
2. Is it both relevant and practical?
3. Whom will it involve?
4. How much will it cost?
5. How much will it save?
6. Will it require more testing or evaluation?
7. What is the best profit margin?
8. Can it be easily copied by competitors?
9. Does it have a patent?
10. Are the management team behind it of high calibre?
All proposed innovations within organizations ...