Make a "for" and "against" list regarding characteristics of the business. On a blank piece of paper, draw a vertical line down the middle of the page and list on one side all the "fors" and on the other all the "againsts." Sometimes this will help clarify your thinking. We have provided a Template to Evaluate a Business for you to use.

Write down the names of at least five successful businesses in your chosen field. Analyze what these five businesses have in common and make a list of reasons for their success.

Talk to several people in your intended business. Don't be afraid of the negative aspects of your intended business. Instead, seek out the pitfalls of your new business ideas — better now than after you open your doors. Take notes if possible. Write down the information as soon as you can.

Analyze the competition that are not doing well and write down the reasons.

Review: Starting a business