Starting a Business? New Business Assessment Tool Pinpoints for Entrepreneurs the Strengths and Weaknesses of Their Ideas

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Why do so many businesses fail? Too many entrepreneurs get all their advice from people who know everything about being encouraging and nothing about what it takes to start a successful business.

Great Business Plans

I just finished going through the Business Analysis Report and worksheets. This really is an amazing tool that provides a ton of value. I was surprised and most impressed with the level of customization and how the report spoke directly to me about my business.

GreatBusinessPlans.com, a leading information site for helping new business owners develop small business plans, has released an online assessment tool that provides an in-depth and highly personalized analysis of one's business idea.

The assessment walks the business owner through 32 questions about their business. The questionnaire focuses on the founder's experience, steps they have taken to plan for the business and knowledge of the space they are entering. There are no questions about trade secrets or proprietary financial information. After completing the Business Analysis Profile, as it's called, the participant receives a customized report, approximately 20-pages in length, by email.

Richard Lindstrom, a software entrepreneur from San Diego, California had this to say about the assessment, "I just finished going through the Business Analysis Report and worksheets. This really is an amazing tool that provides a ton of value. I was surprised and most impressed with the level of customization and how the report spoke directly to me about my business."

The assessment and report, completely administered online, are designed to mimic the exchange of information that would take place between a future business owner and a seasoned startup business professional. Depending on the specific responses provided in the assessment, the report can be highly complimentary or downright hard-hitting. Given that there are ten different sections which include competitive knowledge, market growth expectations and funding--to name a few--often recipients find both good news and cause for concern, depending on the topic being addressed. The report makes specific recommendations for next steps wherever a weakness is perceived.

Asked what he expected to get from such a tool, Lindstrom had this to say: When you're in the process of starting your own business, you quickly realize that there are an overwhelming number of factors that need to be considered if you want to give yourself the best opportunity to succeed. Add to that the lingering concerns about whether you've addressed all the factors that are core to your eventual success or failure. The Business Analysis Report tied it all together for me, backing up some of the ideas I already had in mind and pointing out several items I had not yet taken into account in a clear and concise manner."

Jim DeLapa, president of Great Business Plans, developer of the assessment, spoke about the need for such a product. "We all read about the astronomical failure rates for new businesses. I guarantee you all of these business owners were sure they would beat the odds. But where did they get their feedback and market research? For too many, it works like this: The business owner's friends and family members all told them it was a great idea and encouraged them to go for it. They were just trying to be supportive. But they really had no idea about what it takes to start, operate and grow a business. The number one reason new businesses fail in the first year is the business owner didn't get solid advice from people who knew what they were talking about. We wanted to give future business owners a fast, easy, inexpensive way to get objective feedback before they put their life's savings on the line."

The Business Analysis Report and Assessment is available online with an associated cost of $49 and includes a money-back guarantee.

About GreatBusinessPlans.com. Great Business Plans provides a wealth of information about how to write a business plan, including free business plan templates, a free business plan outline and complete details on how to write a simple business plan.

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Jim DeLapa
Great Business Plans
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