Is the idea feasible in the marketplace? Is there demand? Can it be done? Are you able to pull together the persons and resources to pull it off before the window of opportunity closes?

Hungarian Chimney Cakes at Rosburry Avenue

Overview
Below is an interesting 7 domain model presented by John Mullins, in his book “The New Business Road test”.
He is a three time entrepreneur and says he practices what he preaches. This extensive and comprehensive framework comprises all that one needs to know even before writing a business plan. As a consultant you may find it useful while facilitating an idea generation & opportunity session for an audience with considerable knowledge of entrepreneurship.(For e.g., Management students)
In analyzing your business ideas you must be able to pass them through a test to determine if they truly are valid opportunities. All of your ideas must have a demonstrated need, ready market, and ability to provide a solid return on investment. Is the idea feasible in the marketplace? Is there demand? Can it be done? Are you able to pull together the persons and resources to pull it off before the window of opportunity closes? These questions must be considered and answered. Opportunity-focused entrepreneurs start with the customer and the market in mind. They would prefer to serve attractive rather than unattractive markets. They analyze the market to determine customer needs, barriers to entry, market structure, market size, growth rate, market capacity, attainable market share, cost structure, the core economics, time to breakeven, opportunity costs and exit strategy issues. This framework offers a better toolkit for assessing and shaping market opportunities and provides the basis for a customer driven feasibility study. It is based on