D. How to choose the best ideas – options analysis


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You have the ideas. Now you need to start to test those ideas to see if they will work for you. The two main areas that you need to consider are:

  • Is it right for your organisation and does it fit with your mission, how you operate and what you want to achieve?
  • Will it make money or at least cover its costs?

You can do a quick assessment before you do a full feasibility study or business plan to get a rough idea as to whether or not it is worthwhile exploring further.

Once you have a good idea then define it in a bit more detail.


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Chapter in Introductory Pack on Funding and Finance Guide to Trading on considering the benefits and disbenefits of extending existing services to new customers or developing new products and services Page 15  (Finance Hub)

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Unlock Your Potential ‘Sorting out your ideas’, a worksheet

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