How to Know if Your Business Idea Will Really Work Presented by The Pennsylvania Small Business Development Center

The University of Scranton SBDC
Pennsylvania Small Business Development Center
Resource Partner event

You have an idea for a new business, but are wondering where to start. Is the idea worth pursuing? How can you tell if it is or isn’t?

This session will get you thinking about your motivation for starting a business by walking you through simple steps that will help you determine if the idea is feasible.

Steps covered will include:

  • Considering Your Business Ideas  (What type of business do you want to start?)
  • Assess Your Resources  (How much will this endeavor cost, both financially and in time spent?)
  • Review Industry Regulations  (Every industry has them!)
  • Define Your Target Market  (Who are you going to sell to? Hint - it’s not everyone!)
  • Identify Your Competitive Advantage  (What do you have to offer that your competitors don’t?)
  • Write a Business Plan  (Yes, it is important!)