You have a got a business idea. You think that it is really great. Having mulled it over, you feel that it can be translated into commercial success. All the while, it is you and your idea that mattered. Now comes the third party angle. You have to find someone to look at your business idea and evaluate it for you. Here are persons whom you should approach:
1. Charity begins at home so does evaluation of your business idea. Firstly, you sound your family about it. Your wife is an important resource person who, knowing you very well, can give an informal assessment. She may not be a business person but she possesses insight into how you work and what will work for you. Next you should turn to your children who are adults and can understand many things in proper perspective than you. The reason is that you are emotionally attached to the business idea you have developed whereas they can bring a rational approach to bear upon it. When discussing within family never load them with facts and figures. Just explain them broad principles and major matters
2. Secondly, you must talk few of your relations over. You can choose to speak to one who has succeeded in business or career. Additionally, you must also have a rendezvous with a relation who is more of academic bent. This way you can mesh academia with practical life; a method often brings you a via-media approach. During this discussion you should wait till they finish and pose them questions, taking the stand that your business has definite fault lines. Why do I say this; if you profess loyalty and possessiveness towards the idea, your relations would often be silent and would not venture making any adverse comments
3. Next in your appointment schedule are close friends who could come from different backgrounds: in business, career, academia, government service, military, social service and so on. When you meet them you explain your business idea and give the pros and cons and await their own appraisal and analysis. You should ask searching questions that include benefit and cost; risk and reward, limitations and growth etc. As you proceed ask them to look at your idea from neutral ground and prod them to give you more qualitative comments
4. Then comes the professionals; you must approach accountant, company secretary, lawyer to give their feedback on your business idea. Once again you must adopt the approach I gave you in dealing with your family members. Give them facts and figures as well as broad principles and major matters surrounding the business idea
5. In the next segment you elect to choose either your banker or venture capitalist for an informal chat. These guys are well versed in seeing, reading and evaluating great number of business proposals and would be a big source not only in critically examining the idea but proffering advice and assistance in translating it into commercial success
6. Finally, you must get someone who can understand you, your business idea and your cosmics. However much bright and usefulness your business idea is, its successful transformation depends on how you understand and evaluate your cosmics. Cosmics are aspects residing within you shaping and influencing your business though these are un-seen and un-noticed by you. If you know cosmics well, you can employ these to your own advantages. For example, let us assume that your cosmics support you in food processing industry and your business idea is on data processing industry. So your success in transforming your business idea stands alone without any support from cosmics within you. No wonder why so many bright business ideas falter in the market.
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