Before You Pursue a Business Idea, Run this Back-of-the-Envelope Analysis
Could your startup business idea be profitable?
When inspiration strikes, it can be exciting to run down a new product or service idea and pitch everyone you know to invest or join your efforts, but taking fifteen minutes upfront to sketch out the potential for your new venture to be profitable could save you months (or years) of wasted efforts.
This analysis doesn't have to be complicated or painful.
My post Could Your Startup Idea Make Money? describes the simple Back-of-the-Envelope analysis every would-be entrepreneur should know.