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Product Marketability Analysis Score Sheet

Find out whether your product is marketable.

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Product Marketing Scoresheet

Product Marketability Analysis Score Sheet

You may think you have a great idea but until you have proven that you will be able to promote usage of your product or service to receptive customers who will be willing to pay you – these are only assumptions.

Instructions:

  • Plan four different product/service concepts – each similar, but with variartions.
  • Score each of them high, medium or low to find out whether the product/service is marketable.
Product/
Service

Concept 1

Product/
Service

Concept 2

Product/
Service

Concept 3

Product/
Service

Concept 4

Probability of use by target market
Compatibility with image desired
Competitiveness of price
Number and strength of marketable features
Probability that product will enhance sales of
current line
Projected stability of demand
Ability to overcome seasonal or cyclical resistance
Uniqueness of product
Ability of business to obtain needed equipment
Likely acceptance potential
Ability of business to afford the development and production of product
Column Totals

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Worksheets

Start-Up Costs Worksheet

The following two worksheets will help you to compute the initial cash requirements for your business.

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Start-Up Costs Worksheet:

Instructions

  • These two worksheets list the things you need to consider whendetermining your start-up costs.
  • The first worksheets includes the one-time initialcosts needed to open your doors.
  • The second worksheet covers ongoing costs you’ll face eachmonth.

Capital Requirements: One-Off Start-Up Expenses

Start-up Expenses Amount Description
Advertising Promotion for opening the business
Starting inventory Amount of inventory required to open
Building construction Amount per contractor quote and other
Cash Amount needed for the cash register
Decorating Estimate based on quote if appropriate
Deposits Check with utility companies
Fixtures and equipment Use actual quotes
Insurance Quote from insurance agent
Lease payments Fee to be paid before opening
Licenses and permits Check with city or municipal offices
Miscellaneous All other
Professional fees Include CPA, attorney, etc.
Remodeling Use contractor quotes
Rent Fee to be paid before opening
Services Cleaning, accounting, etc.
Signs Use contractor quotes
Supplies Office, cleaning, etc. supplies
Unanticipated expenses Include an amount for the unexpected
Other
Other
Other
Total Start-up Costs Amount of costs before opening

Capital Requirements: Ongoing Monthly Expenses

Start-Up Expenses Amount Description
Advertising
Bank service fees
Credit card charges
Delivery fees
Dues and subscriptions
Health insurance Exclude amount on preceding page
Insurance Exclude amount on preceding page
Interest
Inventory**
Lease payments Exclude amount on preceding page
Loan payments Principal and interest payments
Office expenses Payroll other than owner
Payroll taxes
Professional fees
Rent Exclude amount on preceding page
Repairs and maintenance
Sales tax
Supplies
Telephone
Utilities
Your Salary If applicable for first three months
Other
Total Ongoing Costs
Total Start-up Costs Amount from preceding table
Total Cash Needed

*Include the first three months’ cash needs unless otherwise noted.
**Include amount required for inventory expansion.

If inventory is to be replaced from cash sales, do not include here. Assume sales will generate enough cash for replacements.

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Worksheets

Conduct a Personal Evaluation

Thinking of starting a business, but not sure which path to follow. Take a few minutes to do a personal evaluation of your goals and resources.

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ConductPersonalEvaluation

Take a few minutes to do a personal inventory of your goals and resources. Think about what it is that really lights your fire. Passion is a driving force in our lives, and that’s never as true as in business ownership. If you have a passion for your work, it’ll carry you far.

If you need help assembling this personal evaluation information, sit down with a trusted friend, an advisor, your spouse or someone you know with business experience, and outline your resources, strengths and weaknesses, as well as your financial resources. Talk through the concept and listen carefully. You need a reality check here. Don’t necessarily accept what you hear, but take it into account.

  1. What type of business activities play to your strengths?
  2. Can your advisor see you pursuing a certain type of business?
  3. Would you be better suited for a business-to-business sales situation or a retail setup?
  4. Are you good with people, a good public speaker?
  5. Are you detail-oriented?
  6. Can you afford to run a business?
  7. Can you afford to fail?
  8. What’s your level of risk tolerance?

This information will be very helpful when you start to narrow your business search. By maintaining a clear focus on your fundamental interests, you won’t be pulled off-track by the distractions you encounter during your quest.

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Worksheets

Business Name Brainstorming Worksheet

Consider these important factors when searching for the ideal name for your new business.

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Brainstorm business names
Business Name Brainstorming Worksheet
The tools you need to develop a catchy name for your budding enterprise.

Listthree ideas based on the products or services you plan to provide(e.g., children’s clothing, custom menu design, aromatherapy products):

List three ideas based on your special niche (e.g. affordablechildren’s special occasion clothes, exclusive designs for the smallrestauranteur, aromatherapy for the office environment):

List three ideas based on your special niche (e.g. affordablechildren’s special occasion clothes, exclusive designs for the smallrestauranteur, aromatherapy for the office environment):

List three ideas combining a favourite theme with your special niche:(e.g. Tea Party children’s party clothes, Table for Two menu designs,The Tranquil Desk aromatic office products):

After you’ve decided which name you like best, ask yourself a few important questions

  1. Haveyou said it aloud to make sure it’s easily understood and pronounced?(Has it passed the test with your family? Have you had a friend call tosee how it sounds over the phone?)
  2. Have you checked your local Yellow Pages to make sure the same or a similar name is not already listed?
  3. Have you checked with your local business authority to make sure the name is available?
  4. Have you started your trademark search?

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